Ingenico Shells Out $484M For Payment Service Co.

Law360, New York (January 29, 2013, 1:22 PM EST) -- Ingenico SA has inked a deal to pick up payment service company Ogone Inc. from its private equity owner Summit Partners for €360 million ($483.8 million), which will help it become a one-stop shop for payment services, the company announced Tuesday.

To seal the deal, which is expected to close by the end of the first quarter, Ingenico will use €240 million in committed bank debt and €120 million in cash, the French company said. With Ogone's online and mobile services complementing Ingenico's physical terminal products,...
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