Wirecard AG: Market Entry in South Africa - Acquisition of Amara Technology Africa
Wirecard AG / Key word(s): Acquisition
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.
Tel.: +49 (0)89-4424-1424
Bloomberg: WDI GY
04.12.2014 The DGAP 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