NEUILLY-SUR-SEINE, France - Ingenico, supplier of transaction and secure payment solutions, and Sagem Sécurité, a subsidiary of SAFRAN, are evaluating options to combinecombining their electronic payment solutions activities.
The proposed transaction includes Sagem's payment-terminal businesses, Sagem Monetel and Sagem Denmark and respective subsidiaries.
The deal would include the issuance of new Ingenico shares to Sagem Sécurité, which also would become a significant shareholder in Ingenico.
The companies say they have signed a non-binding agreement and are now in exclusive negotiations.
The deal is expected to be complete by the end of the year. Ingenico expects to provide an update about the deal when it releases its first-half earnings results in September.
Sagem Sécurité and Ingenico say the deal will allow them to benefit from technological cooperation, particularly in the areas of biometrics applications for payment solutions.
Sagem Sécurité says it plans to remain involved over the long term in the terminal payment sector through its security business and role as a shareholder in Ingenico.
