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EQS Group-News: Sandpiper Digital Payments AG / Key word(s): Disposal
SANDPIPER Digital Payments AG sells majority of PAIR Solutions GmbH
2018-11-09 / 07:55
*SANDPIPER Digital Payments AG sells majority of PAIR Solutions GmbH*
St. Gallen, 9. November 2018 - SANDPIPER Digital Payments AG (BX Swiss,
Ticker: SDP, www.sandpiper.ch, Open Market, Frankfurt, ISIN: CH0033050961)
announces the divestment of 75% of PAIR Solutions GmbH to an external
investor, reducing the SANDPIPER shareholding from 100% to 25%.
PAIR Solutions GmbH is a certified service specialist for cashless payment
of meals and clearing of local as well as administrational subsidies for
schools, kindergartens, care centers, caterers, administrations and cities.
PAIR provides individualized modular systems, consisting of first-class
telephone and technical support, meal plan administration, lists, apps, web
platforms, smart RFID cards as well as innovative and efficient fingerprint
technology.
"We are happy to win an operative partner, knowing the market as well as the
company, to further develop PAIR. At the same time SANDPIPER will intensify
its focus on selected and profitable subsidiaries as well as growing markets
like smart cities," states Dr. Cornelius Boersch, president of the board of
directors at SANDPIPER.
After a very successful part-time interim management period of one year, the
current CEO of PAIR Frank Steigberger will hand over his responsibility, to
focus even more intensely on the further successful development of the
SANDPIPER portfolio. The purchasing price was agreed to remain confidential.
PAIR was contributing approximately EUR 500.000 to the revenue of SANDPIPER
in 2017. The transaction will lead to a loss on the stand alone financial
statement, while it will generate a booking profit of EUR 700.000 on the
consolidated accounts of SANDPIPER.
*About SANDPIPER Digital Payments AG*
SANDPIPER Digital Payments AG, www.sandpiper.ch [1], is a stock-listed
holding company focusing on innovative mobile and digital payment systems,
multi-application solutions like physical and logical access as well as its
underlying digital security services and technologies. SANDPIPER belongs to
the leading and biggest providers of closed-loop payment and loyalty systems
for educational facilities, public authorities, event and mobility
operators, retailers and brands.
SANDPIPER holds majorities in the companies InterCard AG
Informationssysteme, Ergonomics AG, IDpendant GmbH, Multicard Nederland B.V.
Contact: E-mail news@sandpiper.ch; Fax: +41-44-7838040; Website:
www.sandpiper.ch [2]
End of Corporate News
Language: English
Company: Sandpiper Digital Payments AG
Poststrasse 17
9001 St. Gallen
Switzerland
Phone: +41 44 783 80 49
Fax: +41 44 783 80 40
E-mail: news@sandpiper.ch
Internet: www.sandpiper.ch
ISIN: CH0033050961
Valor: A0MYNQ
Listed: BX Berne eXchange
End of News EQS Group News Service
743641 2018-11-09
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=dc3785cebb3804874a942f79aa0afc6f&application_id=743641&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=a7b691a875dbf3111a7887bfc9f4903a&application_id=743641&site_id=vwd&application_name=news
(END) Dow Jones Newswires
November 09, 2018 01:55 ET (06:55 GMT)
