Global payment services provider Worldline has announced that it has entered into negotiations with Magellan Partners to sell its Mobility & e-Transactional Services (MeTS) Business Line and other activities in financial services.
The announcement follows the approval by the Board of Directors, with Worldline entering into exclusive talks with Magellan Partners regarding the strategic contemplated divestment of its MeTS Business Line and other selected operations of Financial Services, representing a total turnover of c. EUR 450 million in 2024. The closing of the transaction is expected in the first half of 2026, subject to customary approvals.
The deal is based on the financing offered by the group’s historical banks, the Crédit Agricole Group and BNP Paribas, as well as the entry of ICG into the capital of Magellan Partners. The contemplated acquisition would also enable ICG to acquire a minority stake in the capital of Magellan Partners to further assist in its development.
Shifting focus
After ten years of consistent focus on the European payments landscape, Worldline has now been considering divesting certain assets, with the carve-out covering MeTS, the company’s digital services business, providing IT solutions and products to public and private sector clients, as well as selected activities of Financial Services Digital Banking. In addition to representing a turnover of c. EUR 450 million, the MeTS Perimeter includes approximately 3,800 employees, located across France, the UK, Spain, Germany, Austria, Belgium, and India.
Considering this, Worldline has been in talks with Magellan Partners after receiving a binding offer with an upfront Enterprise Value of EUR 400 million and an additional contingent consideration of EUR 10 million based on the 2025 operating performance of the perimeter.
When it comes to Worldline, this divestment would optimise its operations and improve resource allocation by scaling management focus on core payment activities for merchants and financial institutions. The proceeds from the transaction would be directed toward solidifying the company’s financial profile, augmenting its strategic flexibility in the medium term, and redeploying capital to core payment activities.
On the other hand, for the MeTS Perimeter, the division from Worldline Group would enable a more targeted approach to its market segments, allowing the business to pursue emerging opportunities and achieve its expansion ambitions. Including Magellan Partners’ knowledge in Business and Management consulting, generative AI, and Technology consulting on solutions and MeTS’ B2B2C digital services would support MeTS in developing new products while accelerating its growth and entering additional markets.
Furthermore, this project would allow Magellan Partners and MeTS Perimeter to create a new European market participant capable of providing sector-specialised consulting, technological expertise, and secure digital services utilising generative AI at scale, for the public and private sectors.
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