French POS giant Ingenico has announced that it has agreed a deal to acquire online payment provider Ogone for EUR360m (USD487).
The move demonstrates Ingenico’s intention to cover all areas of the payments industry, in particular the online sector.
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The company said it expects the acquisition to facilitate greater integration between payment methods, providing up-selling opportunities. It also predicted Ogone would generate EBITDA in excess of EUR20m (USD27) by 2015.
Brussels headquartered Ogone has 42,000 merchants on its books and posted EUR42m (USD56) in revenue last year, with an EBITDA margin of 30%.
Philippe Lazare, Ingenico’s chief executive, said: "Combining Ogone’s leading position in the online space with our unique position in the point-of-sale and mobile space will enable us to address multi-channel global payment solutions for both merchants and acquirers, first in Europe and then in high potential geographies."
The financing for the acquisition will consist of EUR120m (USD162) in existing cash and EUR240m (USD324) in committed bank lines.
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