UPDATE 1-Ingenico to buy payment services provider Ogone

Tue Jan 29, 2013 1:26am EST

Related Topics

* Enterprise value of 360 mln euros

* Deal seen accretive by 2014 (Adds background, details)

PARIS Jan 29 (Reuters) - French payment terminal group Ingenico SA said on Tuesday it had agreed to buy online payment services provider Ogone from investment firm Summit Partners for an enterprise value of 360 million euros ($484.59 million).

Ingenico said it expected the deal to generate 20 million euros in additional earnings before interest, taxes, depreciation and amortisation (EBITDA) by 2015.

The takeover of Brussels-based Ogone will be earnings per share (EPS) neutral for Ingenico in 2013 and "highly accretive" in 2014 before the allocation of the acquisition price, the payment terminal group said in a statement.

Ingenico will finance the deal using 120 million euros in existing cash and 240 million in committed bank lines.

The deal for Ogone, which had 42 million euros in revenue in 2012, is seen closing in the first quarter, subject to regulatory approval.

($1 = 0.7429 euros) (Reporting By Christian Plumb; Editing by Daniel Magnowski)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.