Worldline’s $8.7 billion Ingenico deal to create European payments leader

Worldline’s $8.7 billion Ingenico deal to create European payments leader

PARIS (Reuters) – Payments company Worldline agreed on Monday to buy French rival Ingenico INGC.PA in a 7.8 billion euro ($8.7 billion) deal, creating a European leader in a sector trying to keep up with fast-changing consumer habits and technologies.

Creating a European champion able to compete with bigger American rivals could be welcomed by European politicians.

“The local tie up by Ingenico and Worldline makes sense so instead of competing with each other in their domestic space the combined company can focus on bigger fish to fry,” said MB Capital managing director Marcus Bullus.

Atos welcomed the deal and said it could continue to sell down its stake in Worldline.

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