Paypoint plc Paypoint Plc : Statement On The Acquisition Of Payzone Sa In Romania

 
TIDMPAY 
 
 
   PayPoint plc (the Company) 
 
   12 October 2017 
 
   PayPoint announces the completion of the acquisition of Payzone SA in 
Romania 
 
   PayPoint, the leading provider of payments systems to the convenience 
sector, announces it has completed the acquisition of Payzone SA. 
PayPoint has acquired the entire share capital of Payzone Romania for an 
initial consideration of EUR1.6 million payable in cash on completion, 
plus EUR0.5 million in deferred consideration contingent on the 
collection of specific debts over the two years following completion. 
 
   Payzone SA is a Romanian business offering prepaid mobile top-ups, 
prepaid vouchers, bill payment collection on behalf of utility companies 
and international money transfer services through its retail network, 
available in over 11,000 locations across Romania. Based on the 
completion accounts, Payzone SA had gross assets of EUR 9.1 million and 
profit before tax of EUR 0.1 million for the 6 months ending 30 June 
2017. 
 
   The acquired business will be combined with PayPoint's existing Romanian 
retail network and will allow PayPoint to provide a significantly 
improved consumer experience through the offering of a broader range of 
services.  PayPoint Romania will also realise operational efficiency 
benefits through the combination of the two businesses. 
 
   Dominic Taylor, Chief Executive Officer of PayPoint plc, said: "I am 
pleased we have completed the strategically important acquisition of 
Payzone in Romania. Its broad range of services and reach ideally 
complement our own Romanian business, and will help drive further growth 
in our retail network." 
 
   Notes to editors 
 
   PayPoint Romania 
 
   PayPoint has been operating in Romania since 2007 where it has more than 
11,000 local shops, helping people to make cash bill payments, money 
transfers, road tax payments and mobile phone top-ups. 
 
   PayPoint operates in Romania through its subsidiaries PayPoint Services 
SRL and P.P. Network Progressimo SRL. Both PayPoint Services SRL and 
P.P. Network Progressimo are a wholly owned subsidiaries of PayPoint 
plc. 
 
   Enquiries: 
 
   Finsbury-             020 7251 3801 
 
   Rollo Head 
 
   PayPoint-             01707 600300 
 
   Susan Court 
 
   ABOUT PAYPOINT 
 
   We operate market leading national networks across 40,000 convenience 
stores in the UK and Romania so that our customers are always close to a 
PayPoint store. At these locations, as well as at home or on the move, 
people use us to better control  their household finances, make 
essential payments and use in-store services, like parcel drop and 
collect. 
 
   Our UK network contains more branches than all banks, supermarkets and 
Post Offices together, putting us at the heart of communities for 
millions of regular weekly customers. 
 
   We have a proven track record of decades of tech-led innovation, 
providing retailers with tools that attract customers into their shops. 
Our recently launched PayPoint One platform offers EPoS, card payments 
and PayPoint services, and is designed to help retailers run their whole 
store from one device. 
 
   Coupled with our industry-technology solutions, we provide a first class 
service to the customers of over 300 clients - utility companies, 
retailers, transport firms, mobile phone providers, government and more. 
 
   We are on and offline; providing for payments by cash, card including 
contactless; retail, phone and digital; at home, work and whilst out and 
about from Land's End to the Highlands and Islands - helping to keep 
modern life moving. 
 
   Multichannel payments 
 
   MultiPay is our multichannel payment service, offering consumer service 
providers a ready-made solution for their full range of payments via app, 
web, phone, text and IVR, complementing our cash in store services. 
 
   Clients benefit from streamlining their consumer payment processing and 
transaction routing in a seamlessly integrated and cost effective 
solution. The services are available either as a full portfolio or by 
the client's choice of preferred channels. Clients can choose to access 
our services as a full outsourced model or by linking their own digital 
solutions to our MultiPay payment suite. 
 
   MultiPay is particularly targeted to serve the rollout of smart meters 
within the energy market. For example, our service has helped Utilita to 
become the fastest growing, challenger prepay energy supplier and we 
have also signed several other energy companies, including SSE, a Big 6 
energy client. Among other relevant sectors, MultiPay is available to 
the local authority and social housing sectors through a framework with 
Procurement for Housing. 
 
   Retail networks 
 
   In the UK, our network includes 28,500 local shops including Co-op, Spar, 
Sainsbury's Local, Tesco Express and thousands of independent outlets. 
These outlets are quick and convenient places to make energy meter 
prepayments, bill payments, benefit payments, mobile phone top-ups, 
transport ticket payments, TV licence payments, cash withdrawals and 
more. 
 
   Our Romanian network continues to grow profitably. We have 11,500 local 
shops, helping people to make cash bill payments, money transfers, road 
tax payments and mobile phone top-ups. Our clients include all the major 
utilities and telcos and many other consumer service companies. 
 
   In the UK, our Collect+ network offers parcel collection and return 
services in 6,500 convenient outlets. Customers use Collect+ for their 
parcels from major retailers including Amazon, eBay, ASOS, New Look, 
John Lewis, House of Fraser, M&S and Very. The Collect+ brand is jointly 
owned with Yodel. 
 
   The UK network also includes 4,000 LINK branded ATMs, and 10,000 of our 
terminals enable retailers to accept debit, credit and contactless 
payments, including Apple Pay. We operate 4,000 Western Union agencies 
in the UK and Romania for international and domestic money transfers. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: PayPoint plc via Globenewswire 
 
 
  http://www.paypoint.co.uk/default.htm 
 

(END) Dow Jones Newswires

October 12, 2017 06:39 ET (10:39 GMT)

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