Ingenico Group (Euronext: FR0000125346 - ING), the global leader in seamless payment, announced today the S$88m acquisition of Nera Payment Solutions Pte Ltd, a subsidiary of Nera Telecommunications Ltd (SGX: N01), the Singapore-listed network solutions company.
Ingenico Group is acquiring the Payment Solutions business of Nera Telecommunications, which generates S$47m in revenue a year and has a workforce of over 250. Nera Payment Solutions is one of Southeast Asia's top companies in payment software development and payment terminal distribution and services, with market leadership in Thailand and a substantial share of the market in Singapore, Indonesia, the Philippines, Malaysia and Vietnam.
By acquiring Nera Payment Solutions, Ingenico Group will enhance its local payment applications portfolio and will be able to leverage Nera's existing distribution and services network (call centers, field services), thus allowing the Group to deploy its entire product range more effectively in Southeast Asia and generate sizeable distribution synergies.
Completion is expected to take place during Q3 2016.
"I'm pleased that the Nera Payment Solutions management team is joining Ingenico Group" stated Patrice Le Marre, EVP Asia Pacific & Middle East of Ingenico Group. "Nera Payment Solutions is in a good position to double its revenue in the coming years. With this strategic acquisition, we will be able to fully capture Asia's strong market growth."
"By becoming a subsidiary of Ingenico Group, our Payment Solutions business will enjoy the corporate, financial and technical backing of a global leader in payments. Ingenico Group will take our team to the next level under their global umbrella and we are convinced that our Payment Solutions people will build a high-quality regional business" said Samuel Ang, Chief Executive Officer of Nera Telecommunications.
About Ingenico Group
Ingenico Group (Euronext: FR0000125346 - ING) is the global leader in seamless payment, providing smart, trusted and secure solutions to empower commerce across all channels, in-store, online and mobile. With the world's largest payment acceptance network, we deliver secure payment solutions with a local, national and international scope. We are the trusted world-class partner for financial institutions and retailers, from small merchants to several of the world's best known global brands. Our solutions enable merchants to simplify payment and deliver their brand promise.
Learn more at www.ingenico.com (http://www.ingenico.com/) twitter.com/ingenico (http://twitter.com/ingenico/)
About Nera Telecommunications Ltd
Nera Telecommunication Ltd (SGX: N01) has over 37 years' experience designing communication solutions and telecommunications infrastructure. Headquartered in Singapore, it has a global presence spanning 17 countries in SE Asia, Middle East and Africa. With revenue of approximately S$182 million in 2015, the company operates in two business segments:
- Telecommunications
Nera provides wireless infrastructure networks, end-to-end solutions and services in the wireless space to service providers, ISPs, broadcasters, enterprises, government organizations, offshore and utilities. Nera's portfolio covers in-building solutions, outdoor coverage enhancement, RF access network optimization, benchmarking, 3G/ LTE base stations, licensed and unlicensed point-to-point and point-to-multi-point microwave.
- Infocommunications (comprises two business areas)
Network Infrastructure: Nera provides high-performance solutions for IP networks, digital TV broadcast networks and carrier-grade optical networks to service providers, mobile carriers, broadcasters, enterprises, government, and transport and utility companies.
Payment Solutions: Nera provides distribution (via sale or leasing) and maintenance of point-of-sales payment terminals, electronic payment solutions and other value added services to the banking, financial services and retail industries.
Contacts / Ingenico Group
| Investors Stéphanie Constand VP Investor Relations stephanie.constand@ingenico.com (T) / 01 58 01 85 68 | Investors Caroline Alamy Investor Relations Manager caroline.alamy@ingenico.com (mailto:caroline.alamy@ingenico.com) (T) / 01 58 01 85 09 | Communication Coba Taillefer External Communication Manager coba.taillefer@ingenico.com (mailto:coba.taillefer@ingenico.com) (T) / 01 58 01 89 62 |
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: INGENICO via Globenewswire
