Posted on 12/21/2012 at 16:33

Wirecard acquires Trans Infotech

Wirecard acquires Trans Infotech ©

Today, Wirecard Group has agreed to purchase all shares in Trans Infotech Pte. Ltd., Singapore, from its shareholders.

Trans Infotech Pte. Ltd. was founded in 1997 and has 80 employees. The Group is one of the leading payment service providers in Vietnam, Cambodia and Laos. Furthermore Trans Infotech acts as a technology partner in the area of payment and technology services for banks, transportation businesses and retail companies in Singapore, the Philippines and Myanmar. The founder and main shareholder Freddie Chong will remain in the management team.

The considerations in connection with this transaction comprise cash payments (all converted into Euro) in an amount of approx. EUR 21.1 million and earn out-components of up to approx. EUR 4.4 million, dependent on the operational profit (EBITDA) of the acquired group in the years 2013 through 2015.

It is expected that the acquired group of companies will reach an EBITDA of approx. EUR 2.5 million in fiscal 2013. The closing of the transaction can be expected in the first half of 2013. Integration costs will amount to approx. EUR 0.75 million. 

Markus Braun, CEO of Wirecard says: ”As one of the leading payment service provider in the Indochina region, Trans Infotech complements perfectly our activities in Singapore and Indonesia. With its strong focus on emerging markets the Company is providing already card management of local prepaid and debit cards as well as contactless and mobile card payments. With this step we enlarge our sales distribution in South East Asia.”

With more than 60,000 deployed terminals, Trans Infotech plays a key role within the emerging markets of Indochina; of which Vietnam is the most populous with its 100 million citizens. GDP 2013 is forecasted to rise by 6 percent according to the International Monetary Fund.

Download Press Release

  • Google+
  • Mail
  • XING