Ingenico on acquisition trail

Ingenico on acquisition trail

Ingenico is projecting a $500 million revenue boost from 'targeted acquisitions' in the payment space as it sets out a 2020 turnover objective of EUR4 billion.

The electronic payment market is in the midst of a boom driven by the rise of e-commerce and new payment methods, changing consumer consumption patterns and creating new opportunities in both physical and virtual markets.

Positioning itself as a one-stop-shop operating across all channels, the French company is forecasting double-digit organic growth over the coming four years. Having recently failed in a $6.6 billion bid for the UK's WorldPay, the group has sufficient funds in hand to grow earnings by bolting on fresh acquisitions.

In February, the firm posted record annual revenues of €2.197 billion, up 14% year-on-year, with the US and China identified as its top two growth markets.

In the terminals business, Ingenico expects high single-digit average growth between 2015 and 2020. In payment services, average growth is projected in the mid-teens, with the recently-launch ePayments brand tipped for mid to high teen growth.

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