Ingenico acquires Bambora for €1.5 billion
Written by Anthony Strzalek
Ingenico has announced the acquisition of payment services outfit Bambora from Nordic Capital in a deal worth €1.5 billion.
The transaction, which will be “fully financed through available cash and debt”, is in line with Ingenico’s mission to provide a more integrated client offering and omnichannel solutions.
Headquartered in Stockholm, Bambora employs more than 700 people across Europe, North America and Australia and delivers in-store, mobile and online services through end-to-end payment solutions for over 110,000 merchants and enterprises globally.
Philippe Lazare, chairman and CEO of Ingenico Group, said: “Anticipating the future evolutions of commerce, Ingenico Group has, in recent years, been pursuing a strategy of expanding its offering towards integrated payment services. The acquisition of Bambora represents a key milestone in our strategic plan providing a more integrated client offering and omnichannel solutions.
“Coupled with the investments made in our platforms and the development of new technological features, Bambora will enhance our customer centric approach and will reinforce our online and in-store positioning through a perfect complementarity.”
Johan Tjärnberg, CEO of Bambora, added: “With our one stop shop payment services, our cross border acquiring capabilities and our customers’ digital approach, Bambora fits perfectly with Ingenico’s strategic initiatives to address market evolutions and focus on merchants’ needs. The combination of our scalable end-to-end solutions with Ingenico’s assets will create great value to our customers by helping them to drive performance.”