DGAP-News 454 0 Kommentare Wirecard AG acquires South African payment service provider

DGAP-News: Wirecard AG / Key word(s): Takeover

Wirecard AG acquires South African payment service provider

28.03.2017 / 08:32

The issuer is solely responsible for the content of this announcement.

Wirecard AG acquired all shares of MyGate Communications (Pty) based in Cape Town, South Africa.

MyGate is a leading payment service provider (PSP) in Africa. The company operates one of Africa's largest and fastest growing online payment gateways and was recently voted the best online payment gateway in Africa in 2016. MyGate's enables merchants across Africa to accept a wide range of different e-commerce payment options, in particular online card payments, thereby helping them to serve millions of African consumers. MyGate is linked to the leading acquiring banks in Africa. The company currently employs 21 employees.

The parties agreed upon a purchase price of EUR 23.1 mn, consisting of an upfront payment of EUR 18.2 mn and earn out payments of up to EUR 4.9 mn. MyGate is expected to generate an EBITDA of EUR 2.0 mn for the complete calendar year 2017.

The acquired PSP business along with its integration into Africa's leading acquiring banks and the Visa network offers enormous value added for Wirecard's regional product portfolio and supplements the existing product portfolio offered by our subsidiary Wirecard South Africa. This merger speeds up our expansion into Africa's international markets and offers further potential to leverage synergies. In future, African merchants will receive a comprehensive payment solution along the entire value-added chain from a single source. Wirecard's innovative IP-based payment and risk management technology will greatly benefit the acquired PSP business, which, in turn, is expected to be expanded with additional value-added services.

Contact:

Iris Stöckl

VP Corp.Com./IR

Tel.: +49 (0)89-4424-1424

e-Mail: iris.stoeckl@wirecard.com

http://www.wirecard.com

ISIN DE0007472060

Reuters: WDI.GDE

Bloomberg: WDI GY

28.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	Wirecard AG
	Einsteinring 35
	85609 Aschheim b. München
	Germany
Phone:	+49 (0)89-4424 1400
Fax:	+49 (0)89-4424 1500
E-mail:	ir@wirecard.com
Internet:	www.wirecard.com
ISIN:	DE0007472060
WKN:	747206
Indices:	TecDAX, Prime All Share, Technology All Share
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange