Wirecard AG acquires 3pay, one of the leading payment providers in Turkey

Wirecard AG  / Key word(s): Acquisition

03.09.2014 08:22

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

-Market entry in Turkey, expansion of business activities in Middle East/North Africa (MENA)

The Wirecard Group has agreed on the acquisition of all shares in the Turkish Mikro Ödeme Sistemleri İletişim San. ve Tic. A.Ş., headquartered in Istanbul, with the company's shareholders. Under its brand 3pay, the company is considered to be one of the leading payment providers in Turkey. The service spectrum ranges from mobile payment/direct carrier billing services to its own prepaid card platform.
Among the company's customers and partners are all Turkish mobile communications companies as well as far-reaching partnerships in the field of games publishing and social networks.
The purchase price payable in connection with the transaction consists of cash payments in the amount of approx. EUR 12.0 million plus earn-out components of up to approx. EUR 14 million that depend on the operational profit of the acquired company in the years 2014 to 2017.
It is expected that in the fiscal year 2015 the acquisition will contribute an amount of approx. EUR 1.7 million to the consolidated operational earnings before interest, taxes, depreciation and amortization (EBITDA) of the Wirecard Group. Additional costs for integration will arise in 2014 and 2015 and presumably amount to EUR 1.0 million in total. The Closing of the transaction is subject to the approval by the relevant Turkish authorities and is expected to take place in the fourth quarter of 2014. The sellers are the majority shareholder Mediterra Capital Partners I, LP and the CEO who will remain in the management team.
Founded in 2008, 3pay is a rapidly growing company. Turkey is considered as one of the most dynamic growth markets of the MENA region with regard to electronic payments, e-commerce and prepaid products.

Iris Stöckl 
VP Corp.Com./IR 
Tel.: +49 (0)89-4424-1424
e-Mail: iris.stoeckl@wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY

03.09.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

Language:     English
Company:      Wirecard AG
              Einsteinring 35
              85609 Aschheim b. München
Phone:        +49 (0)89-4424 1400
Fax:          +49 (0)89-4424 1500
E-mail:       ir@wirecard.com
Internet:     www.wirecard.com
ISIN:         DE0007472060
WKN:          747206
Indices: TecDAX, Prime All Share, Technology All Share Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart  
End of Announcement DGAP News-Service  


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