Ingenico Group, (Euronext: FR0000125346 - ING), the global leader in seamless payment, today announced it entered into exclusive negotiations regarding the combination of BS PAYONE owned by DSV (a subsidiary of the Sparkassen-Finanzgruppe) with Ingenico Retail assets in DACH (Germany, Austria, Switzerland).
This non-cash business combination would be 52% owned and consolidated by Ingenico Group.
The joint-venture would create the clear market leader in the attractive German market with the broadest offering in-store and online covering the specific needs of all types of merchants.
Both parties would become long term partners in the DACH region. Current BS PAYONE shareholders would maintain meaningful minority rights in line with their 48% stake.
Headquartered in Frankfurt, BS PAYONE is a leading full-service payment provider offering instore and online payment solutions and employing around 700 people. Serving more than 250,000 merchants in various industries, from small and medium-size businesses to large international accounts, BS PAYONE is the second largest international card acquirer in Germany and a major Network Service Provider (NSP). BS PAYONE benefits from close partnerships with a large number of savings banks in Germany.
The parties intent to sign definitive agreements in Q3 2018.