News

Payment solutions provider Sagem Denmark acquired by BBS

June 11, 2009

OSLO, Norway — BBS, a leading provider of electronic security, payment and information services for retailers and financial institutions in Norway, Sweden and Denmark, has acquired Sagem Denmark A/S and Sagem Manison Finland from Ingenico Group. The acquisition is pending required approval from The Financial Supervisory Authority of Norway.

Sagem Denmark is a worldwide supplier of encrypting PIN pads for use in ATMs, kiosks and other unattended payment solutions. As a result of the acquisition, BBS is likely to strengthen its position in the Nordics through the addition of 150 qualified employees and a large portfolio of customers in the region.

"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," said 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."

"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," said Philippe Lazare, CEO of Ingenico Group. "This is a great opportunity to reinforce our commercial position in this region, thanks to BBS leadership in these countries."

Sagem Denmark already is positioned in the Danish market, and, according to a news release, the company has produced and sold the most frequently used payment terminals in Denmark since 1984. Sagem's customer portfolio includes several Nordic retail chains and fits well with BBS' existing operations in the Danish market.

"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," said 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," said Kaj Christiansen, CEO of Sagem Denmark. "At the same time, it allows Sagem Denmark to further expand our global business of payment security products."

According to the release, Sagem Manison is a substantial player in the Finnish market and the fastest growing payment solutions company in the Nordic countries.

"Already today, we have several customers who request one Nordic solution with adjustments for the Finnish market," said Forberg. "The solutions provided by Sagem Manison will fulfill this requirement, compliment our Nordic focus and establish us with local presence in Finland."