INGENICO GROUP announces the closing of Bambora's acquisition
| Paris, |
14th November 2017
Ingenico Group (Euronext: FR0000125346 - ING), the global leader in seamless payment, today announced the closing of Bambora's acquisition, after obtaining approval from the relevant regulatory and antitrust authorities.
The acquisition of this fast-growing player in payment services represents a key milestone in Ingenico Group's strategy as it:
- Enables the Group to accelerate the development of its Retail division through a direct-to-SMB channel in the Nordic countries and to deploy the successful model of Bambora in new markets.
- Enhances the full-service offer with a modern and efficient acquiring platform which will bring greater flexibility and speed in the boarding of new merchants.
- Extends its geographical exposure both online and in-store.
"From a purely hardware company selling terminals to banks & acquirers, Ingenico Group has, over the past decade, continuously shifted its model towards payment services. Bambora is a key milestone in that strategy. Its integration into our group will enable us to scale up our Retail business, which is key on our path to further improve our position as an undisputable leader of the seamless and omnichannel payment experience," said Philippe Lazare, Chairman and Chief Executive Officer of Ingenico Group. "The whole group joins me in warmly welcoming all the employees of Bambora and I look forward to working closely with them."
About Ingenico Group
Ingenico Group (Euronext: FR0000125346 - ING) is the global leader in seamless payment, providing smart, trusted and secure solutions to empower commerce across all channels, in-store, online and mobile. With the world's largest payment acceptance network, we deliver secure payment solutions with a local, national and international scope. We are the trusted world-class partner for financial institutions and retailers, from small merchants to several of the world's best known global brands. Our solutions enable merchants to simplify payment and deliver their brand promise.
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