04.12.2014

Wirecard AG: Market Entry in South Africa - Acquisition of Amara Technology Africa


Wirecard AG  / Key word(s): Acquisition

04.12.2014 16:53

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.


Wirecard Group today announced the acquisition of all shares of Amara Technology Africa Proprietary Limited, located in Cape Town, South Africa, including one subsidiary. The Amara Group was founded in 2005 and is sold by a local investor and its founder, who will remain in the management team. Amara and its related companies provide acquiring and issuing processing, acquiring reselling as well as prepaid program management services for a number of financial institutions in Africa including Mercantile Bank, Nedbank, Citi Bank and AfrAsia Bank as well as point-of-sale and e-commerce payment processing and card issuance for local retailers, airlines, resorts and governmental organizations.
The purchase price payable in connection with the transaction consists of cash payments in the amount of EUR 29.0 million plus earn-out components of up to approx. EUR 7.0 million that depend on the operational profit of the acquired company in the years 2015 and 2016. It is expected that the acquisition of Amara will contribute an EBITDA of approx. EUR 3.0 million in the fiscal year 2015 excluding integration costs of approximately EUR 0.5 million in 2015.


Contact:
Iris Stoeckl 
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


04.12.2014 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
              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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