Worldline announces the completion of the transactions with Equens and Paysquare

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Worldline announces the completion of the transactions with Equens and Paysquare

Bezons, September 30th, 2016 – After the successful completion of the regulatory approval processes in the Netherlands and in Belgium during the summer, Worldline [Euronext: WLN], European leader in the payments and transactional services industry, today announced the completion of the transaction that was presented on November 3rd, 2015 with Equens Group, a prominent European payment services provider, headquartered in Utrecht, Netherlands.

Gilles Grapinet, Worldline CEO said:The successful completion of the merger of Equens and Paysquare within the Worldline group is a major development for our Company to better serve both the banking and merchant communities and is fully in line with our strategy of being an active industrial consolidator within the European payment market. Through the transaction, the enlarged Worldline Group benefits from a highly comprehensive Pan-European footprint and has increased its revenue size by c.+65% in Financial Processing and by c.+25% in Commercial Acquiring. The Group will immediately engage the execution of the integration programs and of the previously communicated synergy plans.”

 

Under the terms of the agreement, it is reminded that the completed transaction is made of two components:

 

·         Regarding Financial Processing activities, the Financial Processing businesses of Worldline[1] have been merged with Equens. This merger resulted in the creation of equensWorldline, owned by Worldline at 63.6% and by the former shareholders of Equens at 36.4%. The company equensWorldline will be consolidated within the Group’s Financial Processing & Software Licensing division from October 1st, 2016.

 

·         Regarding Merchant Services, Worldline has acquired from Equens its commercial acquiring subsidiary Paysquare for an enterprise value of € 72 million in cash, funded by the existing available cash balance of the Group. Paysquare will be fully consolidated in the Group’s Merchant Services & Terminal division from October 1st, 2016.

The Group’s updated full year 2016 guidance for revenue, OMDA and free cash flow, including the impacts of the consolidation of Equens and Paysquare on one side as well as of the transaction in Merchant Services with Komercni banka on the other side, will be presented during the publication of the Q3 2016 Group revenue, on October 19th, 2016.


 

[1] Except for Financial Processing businesses in Asia and in Spain

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