Ingenico Group announced the $88m acquisition of Nera Payment Solutions Pte Ltd, a subsidiary of Nera Telecommunications Ltd, the Singapore-listed network solutions company.
Ingenico Group is acquiring the Payment Solutions business of Nera Telecommunications, which generates S$47m in revenue a year and has a workforce of over 250. Nera Payment Solutions is one of Southeast Asia’s top companies in payment software development and payment terminal distribution and services, with market leadership in Thailand and a substantial share of the market in Singapore, Indonesia, the Philippines, Malaysia and Vietnam.
By acquiring Nera Payment Solutions, Ingenico Group will enhance its local payment applications portfolio and will be able to leverage Nera’s existing distribution and services network (call centers, field services), thus allowing the Group to deploy its entire product range more effectively in Southeast Asia and generate sizeable distribution synergies. Completion is expected to take place during Q3 2016.
“I’m pleased that the Nera Payment Solutions management team is joining Ingenico Group” stated Patrice Le Marre, EVP Asia Pacific & Middle East of Ingenico Group. “Nera Payment Solutions is in a good position to double its revenue in the coming years. With this strategic acquisition, we will be able to fully capture Asia’s strong market growth.”
“By becoming a subsidiary of Ingenico Group, our Payment Solutions business will enjoy the corporate, financial and technical backing of a global leader in payments. Ingenico Group will take our team to the next level under their global umbrella and we are convinced that our Payment Solutions people will build a high-quality regional business” said Samuel Ang, Chief Executive Officer of Nera Telecommunications.
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