ASCHHEIM/MUNICH | Wirecard Group has agreed to purchase all shares in Trans Infotech Pte. Ltd., Singapore, from its shareholders.
Trans Infotech Pte. Ltd. was founded in 1997 and has 80 employees. The Group is one of the leading payment service providers in Vietnam, Cambodia and Laos. Furthermore Trans Infotech acts as a technology partner in the area of payment and technology services for banks, transportation businesses and retail companies in Singapore, the Philippines and Myanmar. The founder and main shareholder Freddie Chong will remain in the management team.
The considerations in connection with this transaction comprise cash payments (all converted into Euro) in an amount of approx. EUR 21.1 million and earn out-components of up to approx. EUR 4.4 million, dependent on the operational profit (EBITDA) of the acquired group in the years 2013 through 2015.
It is expected that the acquired group of companies will reach an EBITDA of approx. EUR 2.5 million in fiscal 2013. The closing of the transaction can be expected in the first half of 2013. Integration costs will amount to approx. EUR 0.75 million.
Markus Braun, CEO of Wirecard says: ”As one of the leading payment service provider in the Indochina region, Trans Infotech complements perfectly our activities in Singapore and Indonesia. With its strong focus on emerging markets the Company is providing already card management of local prepaid and debit cards as well as contactless and mobile card payments. With this step we enlarge our sales distribution in South East Asia.”
With more than 60,000 deployed terminals, Trans Infotech plays a key role within the emerging markets of Indochina; of which Vietnam is the most populous with its 100 million citizens. GDP 2013 is forecasted to rise by 6 percent according to the International Monetary Fund.
About Wirecard AG:
Wirecard AG is one of the leading international providers of electronic payment and risk management solutions. Worldwide, the Wirecard Group supports over 13,000 companies from various industry segments in their efforts to automate their payment processes and minimize cases of default. Wirecard Bank AG is a Principal Member of Visa, MasterCard and JCB and operates as a credit card acquirer in 69 countries around the world, involving over 100 transaction currencies and 18 payout currencies. Part of the Wirecard Group, Wirecard Bank provides innovative solutions in the fields of corporate banking, prepaid and co-branded cards, along with account products for both business and private customers. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI).