21 January 2018
visit http://response.ncr.com

Payments sector hots up as Ingenico agrees $1.5 billion deal for Bambora

20 July 2017  |  7671 views  |  1 Login

Ingenico is to acquire three-year old payment processor Bambora from Nordic Capital for $1.5 billion, adding fuel to an increasingly hot industry sector for M&A activity.

Based on a platform carve-out from one of the large Nordic banks, Bambora currently claims 110,000 customers and processes transaction to a value of EUR55 billion per year, of which more then 70% are online and mobile.

The company, which employs 700 staff across 70 markets internationally, gained 15,000 new customers during the first six months of 2017, with annual revenue amounting to EUR202 million in 2016.

The acquisition by Ingenico comes after a failed bid by the French group to acquire the assets of Worldpay - itself the subject of renewed M&A activity just 15 months after floating on the stock market. Rival Nordic payments processor Nets is also being courted by potential suitors who view the sector as a strong bet for fast growth as consumers increasingly switch from cash to plastic cards and online payments.

“Anticipating the future evolutions of commerce, Ingenico Group has, in recent years, been pursuing a strategy of expanding its offering towards integrated payment services," says Philippe Lazare chairman and CEO. "The acquisition of Bambora represents a key milestone in our strategic plan providing a more integrated client offering and omni-channel solutions. It will enhance our customer centric approach and will reinforce our online and in-store positioning through a perfect complementarity"

Comments: (1)

Hitesh Thakkar
Hitesh Thakkar - FIS Payments Software and Services India - India | 21 July, 2017, 19:03

This activity seems to gel with global level action by Ingenico - In India it acquired CCAvenue - oldest largest PG player in India apart from EBS early in 2016.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Worldpay and Vantiv agree £9.1 billion merger

Worldpay and Vantiv agree £9.1 billion merger

05 July 2017  |  10205 views  |  1 comments | 18 tweets | 21 linkedin
Worldpay and Nets shares spike on takeover talks

Worldpay and Nets shares spike on takeover talks

04 July 2017  |  7482 views  |  0 comments | 5 tweets | 4 linkedin
Visa invests in Klarna

Visa invests in Klarna

27 June 2017  |  12038 views  |  2 comments | 24 tweets | 19 linkedin
Nets valued at $4.5 billion in IPO

Nets valued at $4.5 billion in IPO

23 September 2016  |  6052 views  |  0 comments | 7 tweets | 3 linkedin
Worldpay seals biggest UK fintech IPO

Worldpay seals biggest UK fintech IPO

13 October 2015  |  14396 views  |  0 comments | 33 tweets | 25 linkedin
Ingenico waits in the wings as WorldPay reconsiders float

Ingenico waits in the wings as WorldPay reconsiders float

16 September 2015  |  8395 views  |  1 comments | 19 tweets | 12 linkedin

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.niceactimize.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
13022 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
8293 views comments | 12 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
8195 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
7222 views 1 | 7 tweets | 2 linkedin

Featured job

Find your next job