Worldline has announced the successful completion of the transaction that was presented on November 3rd, 2015 with Equens Group.
Under the terms of the agreement, it is reminded that the completed transaction is made of two
Worldline completes Equens and Paysquare transaction
components:
- Regarding Financial Processing activities, the Financial Processing businesses of Worldline[1] have been merged with Equens. This merger resulted in the creation of equensWorldline, owned by Worldline at 63.6% and by the former shareholders of Equens at 36.4%. The company equensWorldline will be consolidated within the Group’s Financial Processing & Software Licensing division from October 1st, 2016.
- Regarding Merchant Services, Worldline has acquired from Equens its commercial acquiring subsidiary Paysquare for an enterprise value of € 72 million in cash, funded by the existing available cash balance of the Group. Paysquare will be fully consolidated in the Group’s Merchant Services & Terminal division from October 1st, 2016.
“The successful completion of the merger of Equens and Paysquare within the Worldline group is a major development for our Company to better serve both the banking and merchant communities and is fully in line with our strategy of being an active industrial consolidator within the European payment market,” says Gilles Grapinet, Worldline CEO.
“Through the transaction, the enlarged Worldline Group benefits from a highly comprehensive Pan-European footprint and has increased its revenue size by c.+65% in Financial Processing and by c.+25% in Commercial Acquiring. The Group will immediately engage the execution of the integration programs and of the previously communicated synergy plans.”
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