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Acquisitions - Ingenico and Sagem merging?

French eftpos vendor Ingenico and Paris-based technology firm Sagem Securite are in exclusive talks to merge their respective electronic payments businesses.

The proposed transaction concerns the payment terminals businesses of Sagem Securité - namely Sagem Monetel and Sagem Denmark - and would involve the issuance of new Ingenico shares to Sagem Securité, which is a unit of French aerospace and telecoms business Safran.

Ingenico says these shares would represent 25% of its business.

The two companies have signed a non-binding memorandum of understanding and will now enter a period of negotiations and due diligence.

Ingenico says completion of the transaction is expected by year end, subject to approvals from its shareholders and relevant competition authorities.

Full story from Finextra: Ingenico and Sagem in talks to merge e-payments units

Posted by staff at July 27, 2007 07:59 AM