Deals
Ingenico Buys Swedish Rival in $1.7 Billion Payments Deal
- Acquisition is latest in hotly contested payments industry
- Transaction to bolster Ingenico’s shift away from hardware
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Ingenico Group SA agreed to buy Swedish rival Bambora for 1.5 billion euros ($1.7 billion) in the latest deal to jolt the payments industry as the French company accelerates a shift away from hardware to gain scale in online transactions.
The acquisition of Stockholm-based Bambora from Nordic Capital, financed through cash and debt, should boost Ingenico’s revenue growth by 1 to 2 percentage points annually while also increasing earnings-per-share by about 5 percent in 2018, the Paris-based company said Thursday. Bambora provides online payments for 110,000 shops and companies and had 202 million euros of revenue in 2016.