German payment services company Wirecard AG (ETR:WDI) said on Thursday it had reached a deal to acquire Indonesian peer PT Prima Vista Solusi, or PrimaVista, for a maximum of EUR44.4m (USD54.5m) in cash.
The takeover is part of Wirecard’s expansion in Asia, its chief executive Markus Braun said. Under the terms of the deal, the German company will pay about EUR39.7m in cash and may also provide an earn-out of around EUR4.7m, dependent on the target’s operating profit between 2012 and 2014.
The transaction is scheduled for completion in the fourth quarter of 2012 once it gets the required approvals in Indonesia and is seen to add some EUR4m to the buyer’s consolidated EBITDA in fiscal 2013.
Jakarta-based PrimaVista, which was set up in 2002, is engaged in providing payment and technology services to financial institutions and retailers in Indonesia. The company has around 250 employees and over 130,000 deployed terminals. PrimaVista’s founder and main shareholder will keep his position in the management team of the company. The two firms have been partnering since the beginning of this year.
Earlier this week, Wirecard announced it had recorded consolidated revenues of EUR177.9m during the year’s first half and of EUR94.3m in the second quarter alone.
Elsevier BV, a division of Anglo-Dutch publisher and professional information provider Reed Elsevier Group PLC (LON:REL, AMS:REN), said it had acquired Denmark’s Atira A/S without disclosing the financial particulars of the deal.
Atira was established in 2002 and its activities are concentrated in Northern Europe. The company operates in the computer science and software engineering domain, focusing on server-side architecture and systems integration. Its flagship product is a research information system called Pure. It allows researchers to plan, assess and report activities, facilitating the task of data sources aggregation and visualisation. By using Pure, research project leaders can monitor and manage activities and identify improvement opportunities. The system is currently used by more than 47,000 researchers.
With the acquisition of Atira, Elsevier adds complementary capabilities to its SciVal suite, helping academic institutions improve project management and research outcomes. Nick Fowler, who runs Elsevier’s Academic and Government Institutions segment, said that research and funding organisations were increasingly looking for solutions that provide a clear and comprehensive picture of research activities and outcomes. The software developed by Atira helps users get the information that allows them to manage resources effectively and attain their research goals, Fowler said.
Atira director Thomas Jorgensen said that both companies were focused on providing institutions and researchers with quality solutions that improve outcomes. By becoming part of a company with a global footprint, Atira will be able to take its products faster to academic and government institutions worldwide, Jorgensen added.