Wirecard has acquired all shares of the Brazilian company Moip Pagamentos S.A. (MOIP).
Moip Pagamentos , with more than 150 employees at its location in Sao Paulo, is a fast growing internet
payment service provider on the Brazilian market that was founded eight years ago.
Moip has developed a leading payment platform for small and medium sized retailers over the last few years and focuses, in particular, on marketplaces and companies with direct sales with its innovative end-to-end solutions.
“Through its focus on innovation, Moip has become the independent payment solution of choice in the Brazilian market for , marketplaces and companies (SMBs). During the fourth quarter of 2015 the Company surpassed the threshold of BRL 1 billion in annual TPV (total payment volume) serving close to 100.000 customers in Brazil,” comments Igor Senra, CEO and founder of Moip.
“The acquisition by Wirecard qualifies Moip to reach broader markets in Latin America not only by a stronger financial structure, but also with a brought technological product offering in the next few years.”
The considerations in connection with this transaction comprise cash payments of EUR 23.5 million. Further earnout payments totalling up to €13.5 million are connected to the achievement of certain financial results by Moip in the 2016, 2017 and 2018 fiscal years.
An EBITDA of €2.2 million is expected for the 2016 calendar year. In addition, one-off integration costs of around €0.5 million are expected in 2016.
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