Ingenico to expand e-commerce with acquisition of GlobalCollect

Ingenico GroupFrench payment terminal developer Ingenico announced on Wednesday that it has entered negotiations to acquire Amsterdam-based GlobalCollect for an estimated $1.1 billion.

The company said the acquisition is part of its strategy to rebalance its footprint towards the North American market and to include cash collection and settlement capabilities while retaining its position in the card not present sector.

“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,” Ingenico CEO Philippe Lazare said. “This is a great opportunity to maintain our time-to-market advantage to rapidly reinforce Ingenico Group’s position as a global leader in seamless payment. As an example, it would be a real game changer in North America where we would provide payment solutions across all sales channels, beyond smart terminals. All in all, combining Ingenico Group and GlobalCollect would create a player with unrivalled geographical coverage, network of acquirers/banks and payment methods. And this would result in substantial value for our employees, customers and shareholders.”

If the acquisition is completed, Ingenico said it expects to add more than $3 billion to annual revenues and increase its EBITDA margin by more than 20 percent.

Last year, GlobalCollect reported $416.3 million in gross revenue, $151.5 million in net revenue and adjusted EBITDA of approximately $68.3 million. The company employs 500 people around the world and specializes in cross-border e-commerce.

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