10 September 2008, Paris - Advent International in exclusive negotiations with Experian for the acquisition of its electronic payment activities
Advent International, one of the world's leading global private equity firms, announced today that it is in exclusive negotiations with Experian for the acquisition of its electronic payment business.
Electronic payment involves the processing of electronic payments by card, mobile, and internet for banks and retailers. As a French market leader, the business generates approximately €60 million of sales and employs about 400 people.
Following successful completion of the transaction, Advent’s strategy would be to strengthen the company on a European level and to position it as a major player in future market consolidation. Advent would also support the company in its development of new payment solutions for merchants, capitalising on the ongoing deregulation in the sector (SEPA).
Advent anticipates that the company will grow strongly in the short to medium term, as a result of the rising use of cards as well as the introduction of new payment methods such as internet and mobile.
Pascal Stefani, Managing Director of Advent International in France, said: “Experian’s electronic payment business is highly regarded. We were impressed by the quality of the team and their ability to successfully undertake complex projects as well as their robust technical infrastructure and their strong position in the market. Our focus would be to develop a European growth strategy, notably through acquisition, taking advantage of a growth market and the opportunities offered by ongoing deregulation”.
Advent International has proven expertise in the global payments and transaction processing sector with 9 investments completed in this field in Europe, United States, Asia and Latin America in recent years. Advent has supported companies such as PaySys, Mach, MBF Cards, CSU, CardSystem, Euronet, Dolex and CCS.