BBS acquires Sagem Denmark A/S and Sagem Manison Finland

PRESS RELEASE

Oslo and Glostrup 12 June 2009

BBS acquires Sagem Denmark A/S and Sagem Manison Finland from Ingenico Group. BBS will strengthen its position in the Nordics through the addition of 150 qualified employees and a large portfolio of customers in the Nordics. 

After the acquisition BBS will have local presence in Norway, Sweden, Denmark and Finland and realize the ambition of becoming the leading developer and provider of merchant solutions within the areas of payment and information solutions in the Nordic market. BBS is now positioned as a leading supplier and partner for the largest retail chains and financial institutions in the Nordics. 

“One of our ambitions is to become the leading provider of merchant solutions in the Nordics. With the purchase of Sagem Denmark and the subsidiary Sagem Manison Finland this ambition will be achieved, says Ola Forberg, CEO of BBS. Today we are the one and only Nordic supplier that can meet the demands of the retailers to have one common payment solution across the Nordic region. This position has been further strengthened through the acquisition, continues Forberg.” 

Philippe Lazare, Ingenico Chief Executive Officer, commented: “We are very pleased with the disposal of Sagem Denmark and Manison Finland to BBS along with the strategic partnership for terminal distribution in Nordic countries. This is a great opportunity to reinforce our commercial position in this region thanks to BBS leadership in these countries.” 

Sagem Denmark already has a leading position in the Danish market and the company has produced and sold the most frequently used payment terminals in Denmark since 1984. The customer portfolio includes several Nordic retail chains and fits well with BBS’ existing operations in the Danish market. 

In addition Sagem Denmark has achieved a strong position as a worldwide supplier of encrypting PIN pads for outdoor use in ATM’s and unattended payment solutions. “This is a new business area for BBS which we together with the employees of Sagem Denmark will develop further. We believe encrypting PIN pads can become a strong global business area says Forberg.” 

“I believe that the alliance with BBS will create value for both Sagem Denmark and our customers, who will be working with the leading player on the Nordic market. At the same time it allows Sagem Denmark to further expand our global business of payment security products”, says Kaj Christiansen, CEO of Sagem Denmark. 

Sagem Manison is a substantial player in the Finnish market and the fastest growing company in the Nordic countries within payment solutions. “Already today, we have several customers who requests one Nordic solution with adjustments for the Finish market. The solutions provided by Sagem Manison will fulfill this requirement, compliment our Nordic focus and establish us with local presence in Finland, says Forberg.” 

Päivö Eerola, CEO i Sagem Manison Finland, says “This acquisition creates a real Nordic alternative for the markets and enables us to provide new solutions and new opportunities for our customers.” 

Besides the activities in Denmark and Finland, Sagem Denmark also has a sales office in Sweden which will further strengthen the position of BBS in the Swedish market. 

The acquisition requires an approval from The Financial Supervisory Authority of Norway and will be completed when necessary approval exist.

About Ingenico
Ingenico is the world’s leading provider of payment solutions, with over 15 million terminals deployed across the globe. Delivering the very latest secure electronic payment technologies, transaction management and the widest range of value added services, Ingenico is shaping the future direction of the payment solutions market. Leveraging on its global presence and local expertise, Ingenico is reinforcing its leadership by taking banks and businesses beyond payment through offering comprehensive solutions, a true source of differentiation and new revenues streams.

About BBS AS:
Owned by Nordic banks, BBS is a leading provider of electronic security, payment and information services. Established in 1972, BBS has successfully delivered multitudes of efficient payment services of national critical importance to Norway. In 2008, BBS had a turnover of 1.7 billion NOK. Headquartered in Oslo, Norway, BBS has more than 830 employees in offices in Norway, Sweden and Denmark.