GERMANY - Warburg Pincus sells EUR 290m Easycash
Warburg Pincus has sold payment services provider Easycash to strategic investor Ingenico, in a deal that values the business at EUR 290m.
Since Warburg's investment in 2006, Ratingen-based Easycash has grown significantly through a combination of organic growth initiatives and six acquisitions, including Experian Loyalty Solutions and Siemens' card payment activities. The number of employees has almost doubled to 350 while total transaction volumes have increased from 670 million in 2006 to more than 1 billion, representing a value in excess of EUR 55bn.
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