The combined entity would be the fourth-largest company in the payments sector.
Competition in the Payments space is growing, with newer fintech companies coming into the industry that are more adaptable to changes in technology and consumer habits. Now, the sector is about to get a new big player, with Worldline set to acquire Ingenico, creating the fourth-largest company in the payments industry.
In a statement published this Monday, Worldline and Ingenico announced that their respective Boards of Directors had approved a merger agreement, in which Worldline would launch a tender offer for all of Ingenico shares, consisting of 81 percent stock and 19 percent cash.
Following the acquisition, the combined entity would offer its payment services to nearly 1 million merchants and 1,200 financial institutions. Furthermore, according to the statement, the transaction gives Ingenico an implied equity value of €7.8 billion ($8.6 billion).
Projected 2019 revenues for the combined entity is €5.3 billion, and operating margins of €1.2 billion. In addition, the French payments company expects the deal will create cost savings of €250 million over the next four years.
The transaction consists of a primary offer, in which, Ingenico shareholders will receive 11 Worldline shares and €160.5 in cash for seven shares tendered. A secondary Exchange offer will see 56 Worldline shares traded in exchange for 29 Ingenico shares, and a secondary cash offer of €123.10 per Ingenico share.
The Chief Executive Officer (CEO) of Worldline, Gilles Grapinet, will lead the fourth-largest company in the payments space as the CEO. Ingenico Chairman Bernard Bourigeaud is expected to be appointed as a non-executive chairman.
A "great day for Worldline and for Ingenico"
Commenting on the merger, Gilles Grapinet, Worldline's Chairman and CEO, said in the statement: "I am proud to announce that today is a great day for Worldline and for Ingenico, and more widely for our Payment industry: Together we create the European World-Class leader in digital payments..."
"I am convinced that the combination of our respective remarkable talents pools, joint capabilities and state-of-the art offers will procure our combined Company an outstanding value proposition to pursue an exceptional growth benefitting to all our clients, banks and merchants alike and to all our business partners."
"This is a landmark transaction for the industrial consolidation of European payments, highly value creative for all our stakeholders and for the shareholders of both companies, and which ambitions to reinforce the role of Europe within the global digital payment ecosystem."
Competition in the Payments space is growing, with newer fintech companies coming into the industry that are more adaptable to changes in technology and consumer habits. Now, the sector is about to get a new big player, with Worldline set to acquire Ingenico, creating the fourth-largest company in the payments industry.
In a statement published this Monday, Worldline and Ingenico announced that their respective Boards of Directors had approved a merger agreement, in which Worldline would launch a tender offer for all of Ingenico shares, consisting of 81 percent stock and 19 percent cash.
Following the acquisition, the combined entity would offer its payment services to nearly 1 million merchants and 1,200 financial institutions. Furthermore, according to the statement, the transaction gives Ingenico an implied equity value of €7.8 billion ($8.6 billion).
Projected 2019 revenues for the combined entity is €5.3 billion, and operating margins of €1.2 billion. In addition, the French payments company expects the deal will create cost savings of €250 million over the next four years.
The transaction consists of a primary offer, in which, Ingenico shareholders will receive 11 Worldline shares and €160.5 in cash for seven shares tendered. A secondary Exchange offer will see 56 Worldline shares traded in exchange for 29 Ingenico shares, and a secondary cash offer of €123.10 per Ingenico share.
The Chief Executive Officer (CEO) of Worldline, Gilles Grapinet, will lead the fourth-largest company in the payments space as the CEO. Ingenico Chairman Bernard Bourigeaud is expected to be appointed as a non-executive chairman.
A "great day for Worldline and for Ingenico"
Commenting on the merger, Gilles Grapinet, Worldline's Chairman and CEO, said in the statement: "I am proud to announce that today is a great day for Worldline and for Ingenico, and more widely for our Payment industry: Together we create the European World-Class leader in digital payments..."
"I am convinced that the combination of our respective remarkable talents pools, joint capabilities and state-of-the art offers will procure our combined Company an outstanding value proposition to pursue an exceptional growth benefitting to all our clients, banks and merchants alike and to all our business partners."
"This is a landmark transaction for the industrial consolidation of European payments, highly value creative for all our stakeholders and for the shareholders of both companies, and which ambitions to reinforce the role of Europe within the global digital payment ecosystem."
Mastercard Teams Up with Fintech Startups to Accelerate Digital Payment Solutions
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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