Guys!!!!!!!!!!!!! Check this up EBS (E-Billing Solutions has been acquired by Ogone for an undisclosed amount……
EBS (E-Billing Solutions), the second largest on-line payment provider in India, has announced that Ogone Payment Services, one of Europe’s leading payment service providers, has signed a binding agreement to acquire the company. This acquisition marks Ogone’s first foray outside of the European market and into the rapidly expanding Indian on-line payments market.
However, EBS will continue to operate under its current management structure and market approach and will be responsible for running the operations and the continued expansion of the company. EBS will also retain its name and brand in the Indian market. The EBS board is supported by 3 members of the Ogone Payment Services Board.
Mr Nishanth Chandran, Co-Founder & CEO of EBS, said: “This deal represents a huge opportunity for us to lead the market in India and Ogone Payment Services are the right partner to enable us to get to the number one position in India.”
Mr Peter De Caluwe, CEO of Ogone Payment Services, said: “Only 8.4% of the Indian market is currently online but this translates to 100 million users, which makes it the fourth largest online country in the world and this is set to grow rapidly with online travel accounting for 80% of the commerce in India. Acquiring a leading company such as EBS represents a huge potential for us and our European merchants.”
EBS were advised by growth partnership firm IndigoEdge. Ogone, meanwhile, were advised on the deal by Brian, Garnier & Co, an independent pan-European investment bank focused on growth companies.
EBS now directly present in Chennai, Mumbai, Hyderabad, Bangalore, Delhi,and Thiruvananthapuram has more than 56+ payment options with an uptime of 99.999% and less than 0.001% of online fraud in its entire network of 3000+ merchants and 400+ resellers. EBS witnessed commendable growth over the years with a 300% increase in its merchant base. EBS currently enjoys a 20% market share in terms of the merchant base in the Indian Payment Gateway Industry. And some of the merchants include Flipkart, Snapdeals, APSRTC, Puma, Next, Being human watches,Aircel, Ctrls,BPL, etc
Ogone Payment Services is one of the main European service providers specialised in the processing of online payments, with more than 30000 customers in 45 countries. The company provides a range of electronic payment solutions covering a number of areas, including e-commerce, ticketing, call centres or the hotel industry. This includes both business-to-consumer solutions and business-to-business services (purchasing cards). With its transactional functionalities and extensive back-office capabilities, the Ogone Payment Services offering is one of the most comprehensive available today. And some of their clients include Friends Provident, Tui, Thomas Cook, Halfords, Just Eat, Bose, Opodo, Club Med, DHL International, Viking Direct/Office Depot, Thalys International, Misco and Center Parcs etc
Ogone Payment Services has offices in Belgium, the Netherlands, France, Germany, Switzerland, Austria and the United Kingdom.
This is deal time…….Hope this makes lots of changes in the present indian e-commerce market….and india e-commerce market grow in big and secure way…..
Cheers
VedamsGyan