Payments giant Worldline has decided to acquire POS Terminal Kingpin Ingenico in an $8.6-billion deal. To know more about the acquisition and discover the best merchant services UK that can help you grow your business with ease, just read the article below.
Worldline-Ingenico Deal & Best Merchant Services UK
The new Worldline will be estimated at $331.6 billion. According to France-based Worldline, this is a decision to acquire its domestic rival Ingenico in a deal comprised of 81% stock and 19% cash. As a result, Ingenico’s equity value will make up 7.8 billion euros ($8.6 billion), as Worldline reports, accounting for about 17% premium on Ingenico’s closing price.
Gilles Grapinet, Worldline’s CEO, will be the CEO of the new company. Ingenico’s Chairman Bernard Bourigeaud will be the company’s non-executive chairman.
By the way, did you know that the British government has decided to put a ban on credit cards being used for gambling? More specifically, starting April 14, UK-based businesses won’t be allowed to accept credit cards from consumers placing bets.
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Worldline Buying Ingenico
Worldline anticipates the acquisition will result in cost savings of 250 million euros in the upcoming 4 years. Both of these companies will enjoy much more economy of scale.
When it comes to fighting the competition in the field, the companies hope the merger will help them better compete with the fintech companies in the space that’ve gained a lot of traction recently.
So, Worldline, a major player in the payments field, has decided to acquire Ingenico. The deal will make up €7.8 billion. The new company would result in the creation of the world’s 4th largest payments company. As Gilles Grapinet notes, their joint efforts will help them create the European world-renowned player in the online payments field.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and can help you find the best merchant services UK. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie in his backyard porch, as should all right-thinking people.