Wirecard AG to strengthen its Asian business
Wirecard AG / Key word(s): Acquisition
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Munich (Aschheim); Wirecard Group is disclosing another M&A transaction in
Asia. With this acquisition, Wirecard will be expanding its operating
business in Malaysia. Wirecard will be also extending its offering of
contactless payment solutions in the East Asian region. Wirecard has agreed
to purchase all shares in three companies of the Korvac Group (founded in
1999). These consist of Singapore based PaymentLink Pte. Ltd., and two
subsidiaries in Malaysia and Singapore.
With more than 24,000 acceptance points, PaymentLink operates one of the
largest payment networks for local contactless payment cards. The company
is also one of the leading domestic acquiring processors and distributes
local prepaid cards. The Malaysian subsidiary is a well-established
provider of POS infrastructure as well as payment and technology services,
mainly for banks and financial service providers.
The considerations in connection with this transaction comprise cash
payments (all converted into Euro) in an amount of approx. EUR 26.1 million
and earn out-components of up to approx. EUR 4.8 million, dependent on the
operational profit (EBITDA) of the acquired group in the years 2013 and
It is expected that the companies will contribute an EBITDA of approx. EUR
2.5 million in the fiscal year 2014 and that integration costs will
approximately amount to EUR 0.9 million. The closing of the transaction
can be expected in the next two months.
Tel.: +49 (0)89-4424-1424
Bloomberg: WDI GY
12.09.2013 DGAP's Distribution Services include Regulatory Announcements,
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Company: Wirecard AG
85609 Aschheim b. München
Phone: +49 (0)89-4424 1400
Fax: +49 (0)89-4424 1500
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