Wirecard Group (WRCDF.PK) said it has agreed to acquire all shares in Trans Infotech Pte. Ltd., Singapore, from its shareholders. The transaction considerations include cash payments of roughly 21.1 million euros, and earn out-components of up to approx. 4.4 million euros, dependent on the operational profit (EBITDA) of the acquired group in the years 2013 through 2015. The acquired group of companies are expected to reach an EBITDA of some 2.5 million euros in fiscal 2013.
Founded in 1997, Trans Infotech is a payment service provider in Vietnam, Cambodia and Laos with 80 employees. Also, it 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 would remain in the management team.
The transaction may close in the first half of 2013. Integration costs would total about 0.75 million euros.
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by RTT Staff Writer
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