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General

Wirecard acquires Romania-based Provus Group

Tuesday 1 March 2016 | 12:16 CET | News
Wirecard acquired all the shares of Provus Group, a Romanian payment processing and technological service provider which is headquartered in the capital Bucharest. The compensation owed within the scope of this transaction are cash payments in the amount of EUR 32 million, without further earnout payments. An EBITDA of EUR 4.0 million is expected for calendar year 2016. In addition, non-recurring integration costs amounting to approximately EUR 0.5 million will be incurred in 2016. The vendors are a Polish private equity fund - Innova Capital. The current management team will remain in place.

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Categories: General
Companies: Wirecard
Countries: Romania
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