Posted on 08/16/2012 at 14:34
Wirecard acquires leading Indonesian Payment Service Provider
Today, Wirecard Group has agreed to purchase all shares in PT Prima Vista Solusi, headquartered in Jakarta, Indonesia, from its shareholders.
The considerations in connection with this transaction comprise cash payments in an amount of approximately EUR 39.7 million and earn out-components of up to approx. EUR 4.7 million, dependent on the operational profit of the acquired company in the years 2012 to 2014.
It is expected that the acquisition will contribute an amount of approximately EUR 4.0 million to the consolidated operational earnings before interest, taxes, depreciation and amortization (EBITDA) of Wirecard Group in the fiscal year 2013. The closing of the transaction can be expected in the fourth quarter of 2012, subject to the approval of the relevant authorities in Indonesia. The founder and main shareholder of PrimaVista will remain in the management team. Founded in 2002, PrimaVista employs approx. 250 staff and is with more than 130.000 deployed terminals one of the leading payment and technology service providers for financial institutions and retailers in Indonesia.
Dr. Markus Braun says: „The acquisition of PrimaVista is a further important milestone in our expansion strategy in Asia. The combination of purchases over the internet or mobile phone and subsequent cash payments at the point-of-sale confirms the progressing convergence of different sales channels also in emerging markets.”
PrimaVista offers a variety of innovative payment solutions for emerging markets, such as mini- and mobile-ATMs, solutions for cash payment of utility bills and internet purchases as well as biometric authentication solutions.With a broad range of products for contactless and mobile payment, PrimaVista provides financial institutions and merchants in Indonesia with the technical infrastructure for future acceptance of contactless mobile payments.
Since early 2012 PrimaVista, in partnership with Wirecard, provides multi-channel payment solutions to local financial institutions, enabling them not only to process payments at the point-of-sale but to also accept electronic payments on the internet. PrimaVista’s customers include the leading domestic financial institutions and retailers in Indonesia as well as a number of international banks.