Worldline to Sell MeTS and FS Divisions to Magellan Partners in Strategic Move
Worldline confirms sale of MeTS and FS divisions to Magellan Partners amid restructuring.
Key Points
- • Worldline plans to divest MeTS and part of its FS to Magellan Partners.
- • The sale aims to enhance Worldline's focus on core payment services.
- • Expected revenue from the units is around 450 million euros for 2024.
- • Initial enterprise value of the deal is set at 400 million euros, plus performance-based payments.
Worldline has formally announced its intention to sell its Mobility & Transactional Web Services (MeTS) division along with a segment of its Financial Services (FS) to Magellan Partners. This strategic divestment reflects Worldline's focus on enhancing its core payment services. The deal involves an agreed initial enterprise value of approximately 400 million euros, with a potential additional 10 million euros linked to the operational success of the acquired divisions in 2025.
The transaction is expected to generate around 450 million euros in revenue for Worldline in the upcoming 2024 fiscal year. Magellan Partners, having entered exclusive discussions for the acquisition, has presented what Worldline deems a compelling offer, indicative of the strength and value of the MeTS and FS sectors involved.
The deal is set to finalize in the first half of 2026, showcasing Worldline's commitment to aligning its operational focus with strategic growth areas. This move not only represents a financial restructuring for Worldline but also underscores the competitive landscape in the payment services market, where efficiency and specialization are increasingly crucial.