12.09.2013

Wirecard AG to strengthen its Asian business


Wirecard AG  / Key word(s): Acquisition

12.09.2013 08:27

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


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 2014.
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.


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


12.09.2013 DGAP's 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
              Germany
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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