Worldline acquires Digital River Payments in an acquisition to leverage it’s online payment technology methods.
Worldline is to acquire Digital River World payments in order to extend the company’s internet payment capabilities and international eCommerce reach.
The agreement includes Worldline signing a definite agreement to acquire 100% of DIGITAL River World Payments’ (DRWP) share capital.
The acquisition also includes Worldline extending operations in Sweden, the U.S, and Brazil through DRWP’s market.
Worldline, which provides payments and transactions within the EU, now wishes to advance and expand its services globally by integrating DRWP into its ‘Wordline Merchant Services Global Business Line’.
By using the expertise provided by DRWP’s team, which facilitates businesses internationally with online payments, Worldline bought the company in an attempt to enhance e-commerce solutions and services.
Gilles Grapinet, CEO of Worldline said: “With the acquisition of DRWP, we are accelerating the execution of our strategy in Merchant Services and significantly increasing both our internet payment capabilities and our global reach to support international merchants and large retailers. I am extremely happy to welcome within the Worldline Group the very experienced DRWP team.
“Together, through the power of this combination, we are in a unique position to deliver the next generation of payment services for the digital commerce era. As illustrated today, Worldline continues to work in order to further accelerate its external growth strategy. Based on its current pipeline of diversified potential transactions, Worldline has the ambition to realize several other M&A operations normally before the end of the year and, in doing so, to expand across various new geographies in Continental Europe.”
Key features of the agreement will include both companies allowing global merchants to extend online transactions using ‘Worldline’s Group Strategy in Merchant Services’.
The will include the acquisition leveraging DRWP product services in 22 countries where Worldline is also based. Worldline aims to increase revenue, whilst making use of the benefits that DRWP’s expertise in online technology solutions can provide to businesses. This includes Worldline being able to accelerate the development of its SIPS gateway, this will be done by integrating services that shall allow businesses to make multi acquiring e-commerce transactions, and deliver different ways to collect payments using online methods.
This includes working with DRWP to leverage technologies and expand in global markets, creating services to extend global reach, and improve functions of online payments.
The company says that its clients will have access to better connectivity and will also gain extended access to global partners. This will allow business partners to have the ability to make both local and global online payment using different online methods, whilst also collecting major funds through global contracts.
The move shall also include DRWP allowing Worldline to extend its commercial operations with its parent company Atos.
Hayden Reed, DRWP senior vice president and general manager said
“By joining forces with Worldline, DRWP gains a strategic owner with deep expertise in the global payments processing industry, giving us the opportunity to expand our capabilities and further extend our investment in and commitment to operational excellence for the benefit of our clients. Like Digital River,
“Worldline is committed to the payments business and our enterprise clients. We look forward to the strength and increased differentiation that results from the combination, including expanded service flexibility, continued investment into back-office reconciliation and reporting capabilities, and a shared commitment to helping our clients and acquiring partners continue to expand their online businesses.”
The companies will enter into a five year commercial agreement by the end of 2017.