Ingenico, international provider of payment solutions, announced the final closing of the acquisition of Ogone, leading pan- European online payment services provider, after having been informed of the non-opposition from the National Bank of Belgium.
This follows the news released in January this year that Ingenico concluded an agreement for the purchase of Ogone for € 360 million. The acquisition to be funded through secured financing of existing cash for € 120 million and in committed bank lines for € 240 million. In 2012, Ogone reached € 42 million of revenue, with an EBITDA margin of around 30% and had an international client base of over 42,000 merchants.
At the time of the acquisition announcement the deal was touted as leveraging the combination of Ingenico’s customer base and infrastructure with Ogone’s platform with expectations of generating an additional EBITDA in excess of €20m by 2015.