- Raymond James advising on Hyperwallet auction
- Ingenico acquired Bambora in 2017 from Nordic
- Paris firm said to pay $400 mln for Hyperwallet
Ingenico Group is in talks to buy Hyperwallet Systems Inc, three sources said.
The Paris payments company is paying $400 million for Hyperwallet, two of the sources said.
Vancouver-based Hyperwallet supplies B2C and peer-to-peer services for corporations and financial institutions.
Hyperwallet went up for sale earlier this year. Raymond James is advising on the process, Buyouts has reported.
Hyperwallet was in talks with an unnamed strategic, Buyouts reported in May. Ingenico is the strategic trying to buy Hyperwallet, the people said. Ingenico outbid several PE firms that were interested in Hyperwallet, the story said.
It’s not clear whether Ingenico will succeed in buying Hyperwallet. A different source said the unnamed strategic “walked” and Hyperwallet is now considering a minority sale.
Ingenico has been very acquisitive. In July 2017, the company acquired Bambora, a Swedish payments services company, for 1.5 billion euros. Nordic Capital was the seller. Later that year Ingenico bought IECISA Electronic Payment System, the business unit of Informatica El Corte Ingles SA. It also snapped up Airline, of Taiwan, in December 2017.
Executives for Hyperwallet declined comment. Ingenico and Raymond James could not be reached for comment.
Action Item: Contact Hyperwallet CEO Brent Warrington at +1 855-449-3737