Worldline announces the completion of the acquisition of the Indian payment service provider MRL Posnet
Bezons, October 27th , 2017
Worldline [Euronext: WLN], an Atos company and the European leader in the payments and transactional services industry, today announces the completion of the agreement to acquire 100 percent of the share capital of MRL Posnet, for a consideration up to c. 6.5 billion Indian rupees (approximately € 84 million), representing a transaction multiple based on the 2017 estimated OMDA a bit below Worldline’s current trading OMDA multiple. The transaction is financed by the available cash of Worldline.
Founded in 2008 and headquartered in Chennai, India, MRL Posnet employs approximately 140 highly skilled engineers in Payment in India. Operating an innovative and state-of-the-art terminal management platform, enabling very cost efficient deployment and management of new terminals, MRL Posnet currently processes payment transactions on behalf of 18 Indian banks, through the management of c.100,000 payment terminals.
Presenting a very strong growth track record since incorporation and an OMDA rate above Worldline’s OMDA rate, the transaction is expected to be immediately margin accretive, before synergies.
MRL Posnet will be consolidated in the Merchant Services division of Worldline from November 1st, 2017. The additional contribution from MRL Posnet during Q4 2017 is expected as follows:
- Contribution to Worldline’s revenue: above +€ 2 million
- Marginally accretive to Worldline’s OMDA rate
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Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry. Worldline delivers new-generation services, enabling its customers to offer smooth and innovative solutions to the end consumer. Key actor for B2B2C industries, with nearly 45 years of experience, Worldline supports and contributes to the success of all businesses and administrative services in a perpetually evolving market. Worldline offers a unique and flexible business model built around a global and growing portfolio, thus enabling end-to-end support. Worldline activities are organized around three axes: Merchant Services, Mobility & e-Transactional Services and Financial Services including equensWorldline. Worldline employs more than 9,400 people worldwide, with estimated pro forma revenue of more than € 1.5 billion on a yearly basis. Worldline is an Atos company. worldline.com