Paypoint plc Paypoint Plc : Statement On The Acquisition Of Payzone Sa In Romania
October 12 2017 - 5:39AM
UK Regulatory
TIDMPAY
PayPoint plc (the Company)
12 October 2017
PayPoint announces the completion of the acquisition of Payzone SA in
Romania
PayPoint, the leading provider of payments systems to the convenience
sector, announces it has completed the acquisition of Payzone SA.
PayPoint has acquired the entire share capital of Payzone Romania for an
initial consideration of EUR1.6 million payable in cash on completion,
plus EUR0.5 million in deferred consideration contingent on the
collection of specific debts over the two years following completion.
Payzone SA is a Romanian business offering prepaid mobile top-ups,
prepaid vouchers, bill payment collection on behalf of utility companies
and international money transfer services through its retail network,
available in over 11,000 locations across Romania. Based on the
completion accounts, Payzone SA had gross assets of EUR 9.1 million and
profit before tax of EUR 0.1 million for the 6 months ending 30 June
2017.
The acquired business will be combined with PayPoint's existing Romanian
retail network and will allow PayPoint to provide a significantly
improved consumer experience through the offering of a broader range of
services. PayPoint Romania will also realise operational efficiency
benefits through the combination of the two businesses.
Dominic Taylor, Chief Executive Officer of PayPoint plc, said: "I am
pleased we have completed the strategically important acquisition of
Payzone in Romania. Its broad range of services and reach ideally
complement our own Romanian business, and will help drive further growth
in our retail network."
Notes to editors
PayPoint Romania
PayPoint has been operating in Romania since 2007 where it has more than
11,000 local shops, helping people to make cash bill payments, money
transfers, road tax payments and mobile phone top-ups.
PayPoint operates in Romania through its subsidiaries PayPoint Services
SRL and P.P. Network Progressimo SRL. Both PayPoint Services SRL and
P.P. Network Progressimo are a wholly owned subsidiaries of PayPoint
plc.
Enquiries:
Finsbury- 020 7251 3801
Rollo Head
PayPoint- 01707 600300
Susan Court
ABOUT PAYPOINT
We operate market leading national networks across 40,000 convenience
stores in the UK and Romania so that our customers are always close to a
PayPoint store. At these locations, as well as at home or on the move,
people use us to better control their household finances, make
essential payments and use in-store services, like parcel drop and
collect.
Our UK network contains more branches than all banks, supermarkets and
Post Offices together, putting us at the heart of communities for
millions of regular weekly customers.
We have a proven track record of decades of tech-led innovation,
providing retailers with tools that attract customers into their shops.
Our recently launched PayPoint One platform offers EPoS, card payments
and PayPoint services, and is designed to help retailers run their whole
store from one device.
Coupled with our industry-technology solutions, we provide a first class
service to the customers of over 300 clients - utility companies,
retailers, transport firms, mobile phone providers, government and more.
We are on and offline; providing for payments by cash, card including
contactless; retail, phone and digital; at home, work and whilst out and
about from Land's End to the Highlands and Islands - helping to keep
modern life moving.
Multichannel payments
MultiPay is our multichannel payment service, offering consumer service
providers a ready-made solution for their full range of payments via app,
web, phone, text and IVR, complementing our cash in store services.
Clients benefit from streamlining their consumer payment processing and
transaction routing in a seamlessly integrated and cost effective
solution. The services are available either as a full portfolio or by
the client's choice of preferred channels. Clients can choose to access
our services as a full outsourced model or by linking their own digital
solutions to our MultiPay payment suite.
MultiPay is particularly targeted to serve the rollout of smart meters
within the energy market. For example, our service has helped Utilita to
become the fastest growing, challenger prepay energy supplier and we
have also signed several other energy companies, including SSE, a Big 6
energy client. Among other relevant sectors, MultiPay is available to
the local authority and social housing sectors through a framework with
Procurement for Housing.
Retail networks
In the UK, our network includes 28,500 local shops including Co-op, Spar,
Sainsbury's Local, Tesco Express and thousands of independent outlets.
These outlets are quick and convenient places to make energy meter
prepayments, bill payments, benefit payments, mobile phone top-ups,
transport ticket payments, TV licence payments, cash withdrawals and
more.
Our Romanian network continues to grow profitably. We have 11,500 local
shops, helping people to make cash bill payments, money transfers, road
tax payments and mobile phone top-ups. Our clients include all the major
utilities and telcos and many other consumer service companies.
In the UK, our Collect+ network offers parcel collection and return
services in 6,500 convenient outlets. Customers use Collect+ for their
parcels from major retailers including Amazon, eBay, ASOS, New Look,
John Lewis, House of Fraser, M&S and Very. The Collect+ brand is jointly
owned with Yodel.
The UK network also includes 4,000 LINK branded ATMs, and 10,000 of our
terminals enable retailers to accept debit, credit and contactless
payments, including Apple Pay. We operate 4,000 Western Union agencies
in the UK and Romania for international and domestic money transfers.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: PayPoint plc via Globenewswire
http://www.paypoint.co.uk/default.htm
(END) Dow Jones Newswires
October 12, 2017 06:39 ET (10:39 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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