DGAP-News: Wirecard acquired payment service provider in Dubaid

 | Source: EQS Group AG EQS Group AG 

DGAP-News: Wirecard AG / Key word(s): Acquisition
Wirecard acquired payment service provider in Dubaid

17.02.2011 / 07:45

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Grasbrunn/Munich, February 17, 2011; Effective as at January 13, 2011
Wirecard AG acquired Procard Services FZ LLC, headquartered in Dubai,
United Arab Emirates. The seller, Marwan Kheireddine, established the
company in 2004 together with a number of regional partners. Kheireddine is
the principal shareholder and CEO of the Lebanese Al-Mawarid Bank s.a.l..
The parties agreed not to disclose the purchase price.

Procard Services is specialized in services relating to electronic payment
processing, credit card acceptance and the issuing of debit and credit
cards, and the company has a regional customer portfolio.

This takeover enables Wirecard AG to continue its strategy of intensifying
its expansion by establishing key international locations in growth
regions.

Additional benefits in taking over Procard are the acquisition of both a
regionally entrenched management and a team of staff members specially
experienced in the field of payment processing. By joining forces with
employees of Wirecard AG, this will intensify the company's extension in
regional terms.

Procard Services FZ LLC has a state-of-the-art technical platform at its
disposal. It can be taken for granted that the integration into the
Wirecard platform and the extension of complementary regional
functionalities will generate additional technical synergy effects in the
course of time.

The contribution to earnings generated in fiscal 2011 in the amount of at
least approximately 1.0 million euros will predominantly be used for
integration purposes. For 2012 Wirecard expects that the acquired company
will contribute approximately 1.5 million euros to the EBITDA of the Group.


Contact:
Iris Stöckl 
Dir. Investor/ Public Relations  
Tel.: +49 (0)89-4424-1424
e-Mail: iris.stoeckl@wirecard.com
http://www.wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY


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Language:    English                                               
Company:     Wirecard AG                                           
             Bretonischer Ring 4                                   
             85630 Grasbrunn b. München                            
             Deutschland                                           
Phone:       +49 (0)89-4424 0400                                   
Fax:         +49 (0)89-4424 0500                                   
E-mail:      ir@wirecard.com                                       
Internet:    www.wirecard.com                                      
ISIN:        DE0007472060                                          
WKN:         747206                                                
Listed:      Regulierter Markt in Frankfurt (Prime Standard);      
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München,  
             Stuttgart                                             
 
 
End of News    DGAP News-Service  
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