French payment solutions company, Ingenico Group has acquired Swedish rival, Bambora, from Stockholm-based private equity group Nordic Capital for €1.5 billion (US$1.74 billion).
Bambora has 110,000 retail customers in 70 different markets and manages transactions worth more than €55 billion (US$63.97 billion) per year. The company has 700 employees and posted annual revenue of €202 million (US$235 million) in 2016.
This is one of several contemporary transactions in the payment service industry, coming just weeks after weeks after Vantis, the credit card processor, agreed to acquire rival Worldpay for US$9.99 billion. Also, French payments company Worldline has agreed to buy Swedish company Digital River World Payments.
Full Content: The Financial Times
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