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Apollo to acquire Worldline's TSS unit for EUR 2.3 bln

Monday 21 February 2022 10:42 CET | News

Worldline has entered exclusive talks to sell its TSS terminals business to US-based financial company Apollo in a deal potentially worth around EUR 2.3 billion.

The deal would comprise a EUR 1.7 billion upfront consideration as well as preferred shares that could reach up to EUR 0.9 billion in value depending on how TSS does in future.

Worldline, which bought French rival Ingenico in 2020 in a EUR 7.8 billion deal, said the sale of TSS to Apollo would help cut its debt and simplify its corporate structure.

Apollo is a global alternative asset manager. In the asset management business, Apollo seeks to provide its clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity.

Worldline is a European provider of payments and transactional services. With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks, and third-party acquirers as well as public transport operators, government agencies, and industrial companies in all sectors.

To find more about Worldline, check their profile in our company database. 


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Keywords: Worldline, acquisition, financial services, online payments, digital payments
Categories: Payments & Commerce
Companies:
Countries: World
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Payments & Commerce






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