DGAP-Adhoc: Wirecard AG to strengthen its Asian business

DGAP-Adhoc: Wirecard AG to strengthen its Asian business  

Wirecard AG  / Key word(s): Acquisition

12.09.2013 08:27

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Munich (Aschheim); Wirecard Group is disclosing another M&A transaction in
Asia. With this acquisition, Wirecard will be expanding its operating
business in Malaysia. Wirecard will be also extending its offering of
contactless payment solutions in the East Asian region. Wirecard has agreed
to purchase all shares in three companies of the Korvac Group (founded in
1999). These consist of Singapore based PaymentLink Pte. Ltd., and two
subsidiaries in Malaysia and Singapore.
With more than 24,000 acceptance points, PaymentLink operates one of the
largest payment networks for local contactless payment cards. The company
is also one of the leading domestic acquiring processors and distributes
local prepaid cards. The Malaysian subsidiary is a well-established
provider of POS infrastructure as well as payment and technology services,
mainly for banks and financial service providers.
The considerations in connection with this transaction comprise cash
payments (all converted into Euro) in an amount of approx. EUR 26.1 million
and earn out-components of up to approx. EUR 4.8 million, dependent on the
operational profit (EBITDA) of the acquired group in the years 2013 and
2014.
It is expected that the companies will contribute an EBITDA of approx. EUR
2.5 million in the fiscal year 2014 and that integration costs will
approximately amount to  EUR 0.9 million. The closing of the transaction
can be expected in the next two months.


Contact:
Iris Stöckl 
VP Corp.Com./IR 
Tel.: +49 (0)89-4424-1424
e-Mail: iris.stoeckl@wirecard.com
http://www.wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY


12.09.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Wirecard AG
              Einsteinring 35
              85609 Aschheim b. München
              Germany
Phone:        +49 (0)89-4424 1400
Fax:          +49 (0)89-4424 1500
E-mail:       ir@wirecard.com
Internet:     www.wirecard.com
ISIN:         DE0007472060
WKN:          747206
Indices:      TecDAX, Prime All Share, Technology All Share
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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