Ingenico in talks to buy GlobalCollect for $1.1 billion
PARIS (Reuters) - French IT systems group Ingenico said on Wednesday it was in exclusive talks to buy Amsterdam-based online service payment provider GlobalCollect for an enterprise value of 820 million euros (652.39 million pounds).
The deal, which would rebalance Ingenico's geographical footprint towards North America and boost its access to Latin America's high-growth markets, would lift its earnings per share by around 15 percent in 2015, Ingenico said in a statement.
"The acquisition of GlobalCollect would enable us to accelerate the implementation of our strategy across all channels, on a global scale, especially in payment services and mobile payment", said Philippe Lazare, Chief Executive Officer of Ingenico.
Ingenico expects to fund the deal with existing cash on its balance sheet for 220 million and bank debt of 600 million.
The closing is expected at beginning of the fourth quarter 2014, subject to approval from the relevant regulatory and antitrust authorities.
During fiscal year 2013, GlobalCollect, which employs over 500 people, reported gross revenue of 305 million euros, net revenue of 111 million and adjusted Earnings Before Interest Taxes Depreciation and Amortisation (EBITDA) of 50 million.
(Reporting by Dominique Vidalon; editing by John Irish)
