|By Marketwired .||
|January 29, 2013 01:20 AM EST||
PARIS -- (Marketwire) -- 01/29/13 --
Ingenico announces an agreement for the acquisition of Ogone, leading pan-European online payment services provider A key milestone in the execution of Ingenico strategy: Providing unrivalled offering of multi-channel payment solutions to address increasing merchant needs
Ingenico, (Euronext: FR0000125346 - ING), leading worldwide provider of payment solutions, today announced it has reached an agreement in principle with Summit Partners to acquire Ogone, the leading pan-European online payment services provider for an enterprise value of EUR 360 million.
This acquisition represents a key milestone in the execution of Ingenico's strategy of becoming the unique "one-stop-shop" provider covering multi-channel payment solutions: point-of-sale, online and mobile. The combination of Ingenico's customer base and infrastructure with Ogone's platform would offer an unrivalled ability to generate significant synergies in terms of new upselling opportunities and offer optimization expected to generate additional EBITDA in excess of EUR20m by 2015. With this acquisition, Ingenico would also further reinforce its presence in Transactions while leveraging the attractive exposure to the online transactions growth.
Based in Brussels, Ogone has developed, over the past ten years, a recognized expertise in making online payment services less complex, more efficient and secured for merchants. Thanks to its scalable, in-house and robust platform and its experienced management team, Ogone has built a prime, truly international client base with over 42,000 merchants, highly diversified in terms of sizes, segments or distribution channels. In 2012, with more than 280 employees, Ogone reached EUR 42 million of revenue, with an EBITDA margin of around 30%. The recent commercial initiatives, including the Barclaycard white-label contract win, should generate a revenue growth in excess of 30% in 2013.
The acquisition of Ogone offers a sound financial rationale, with a strong positive impact on both margin and growth profiles, while maintaining leverage under control. The acquisition is expected to be neutral on Ingenico 2013 EPS and highly accretive on 2014 EPS before PPA. The secured financing of the acquisition will consist in existing cash for EUR 120 million and in committed bank lines for EUR 240 million.
The consultation of Ingenico SA workers' council has been initiated. The final documentation and closing are expected in Q1 2013, in particular after confirmation of non-opposition from the National Bank of Belgium.
The acquisition of Ogone is a key milestone in the execution of the Group strategy offering unique synergies with Ingenico entities, notably easycash and ROAM", said Philippe Lazare, Chief Executive Officer of Ingenico. "Combining Ogone leading position in the online space with our unique position in the point-of-sale and mobile space will enable us to address multi-channel global payment solutions for both merchants and acquirers, first in Europe and then in high potential geographies. I am very proud of this acquisition that will benefit our employees, customers and shareholders. We look forward to working together. "
I'm very proud of today's announcement. I see both a strong strategic and cultural fit between Ingenico and Ogone", said Peter De Caluwe, Chief Executive Officer of Ogone. "This will help us accelerate our strategic focus on expanding globally while further investing in product innovation. Our fraud prevention tools and financial services perfectly complement Ingenico's portfolio and will leverage their multi-channel strategy. This is exciting news for our customers, partners, banks and our employees and I look forward to bringing my strong e-commerce expertise to Ingenico management board. "
It has been a pleasure to work with Ogone's exceptional management team", said Christian Strain, Managing Director of Summit Partners. "Our investment in Ogone exemplifies what Summit does best - partnering with excellent management teams to help them extend their market leadership."
A conference call to discuss details of the transaction will be held on January 29, 2013 at 9.30a.m. (Paris time). Dial in number: +33 (0)1 7099 3212 (French domestic) or +44 (0)207 1620 177 (international).
This document includes forward looking statements relating to Ingenico's future prospects, development and business strategies. By their nature, forward looking statements involve risks and uncertainties and are not guarantees of future performance. Ingenico's financial condition and results of operations and the development of the industry in which Ingenico operates may differ materially from those made in or suggested by the forward looking statements contained in this document. In addition, even if Ingenico's financial condition and results of operations and the development of the industry in which Ingenico operates are consistent with the forward looking statements contained in this document, those results or developments may not be indicative of results or developments in future periods. Ingenico does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward looking statements to reflect events that occur or circumstances that arise after the date of this document. In addition, the occurrence of certain of the risks described in the "Risk Factors" sections of the French language Document de Référence 2011 filed with the Autorité des marchés financiers (the "AMF") on March 29 2012 under number D.12-0240 may have an impact on these forward looking statements.
About Ingenico (Euronext: FR0000125346 - ING)
Ingenico is a leading provider of payment solutions, with over 20 million terminals deployed in more than 125 countries. Its 4,000 employees worldwide support retailers, banks and service providers to optimize and secure their electronic payments solutions, develop their offer of services and increase their point of sales revenue. More information on www.ingenico.com | twitter.com/Ingenico. |
Ogone is a leading payment service provider with global reach. Tens of thousands of online businesses worldwide trust Ogone to manage, secure and collect their online and mobile payments, help prevent fraud and drive their business. Ogone's scalable solution allows their customers to increase their checkout conversion and help them enhance sales, both domestic and cross-border. More information about Ogone Payment Services (www.ogone.com)
About Summit Partners
Summit Partners is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised nearly $15 billion in capital and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 365 companies globally in technology, healthcare and other growth industries. Summit's notable investments in the e-commerce and financial services sector include 360T Group, AVAST Software, FleetCor Technologies, iPayment, vente-privee.com and Web Reservations International. More information on Summit Partners (www.summitpartners.com).
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: INGENICO via Thomson Reuters ONE
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Jul. 28, 2016 12:30 PM EDT Reads: 573
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
Jul. 28, 2016 12:00 PM EDT Reads: 1,222
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
Jul. 28, 2016 11:15 AM EDT Reads: 1,136
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Jul. 28, 2016 10:45 AM EDT Reads: 1,273
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Jul. 28, 2016 10:30 AM EDT Reads: 814
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
Jul. 28, 2016 10:00 AM EDT Reads: 277
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Jul. 28, 2016 09:30 AM EDT Reads: 1,405
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
Jul. 28, 2016 09:00 AM EDT Reads: 1,612
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Jul. 28, 2016 07:30 AM EDT Reads: 539
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Jul. 28, 2016 06:45 AM EDT Reads: 1,572
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 28, 2016 05:45 AM EDT Reads: 2,332
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jul. 28, 2016 03:15 AM EDT Reads: 2,656
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Jul. 28, 2016 03:00 AM EDT Reads: 1,651
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 28, 2016 02:30 AM EDT Reads: 1,565
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Jul. 28, 2016 02:15 AM EDT Reads: 1,426
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Jul. 28, 2016 02:00 AM EDT Reads: 2,071
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
Jul. 28, 2016 01:45 AM EDT Reads: 1,135
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Jul. 28, 2016 01:15 AM EDT Reads: 885
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 01:00 AM EDT Reads: 1,643
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 27, 2016 10:30 PM EDT Reads: 1,426