Avendus Capital Advises Techprocess on Its Acquisition by Ingenico Group.

The acquisition of TechProcess will support the strategy of Ingenico Group in India, where it is the leader on the terminal market with c.50% market share and a player in online payments through EBS, an Ingenico ePayments entity. As a result, Ingenico Group will further expand its footprint in the country, and, ultimately, offer cross-border capabilities. Commenting on Avendus’ role in the transaction, 

In Avendus, we saw a partner with deep industry expertise in the Payments space who advised us on our strategy as well as execution plans. Their sheer perseverance and commitment to create value for the company and the shareholders is what differentiates them from others. We are delighted with the outcome of this transaction which positions the combination of Ingenico & TechProcess as a formidable player in the Indian Payment ecosystem.

Based on its already leading position in terminal market, Ingenico Group is making, with the
acquisition of TechProcess, a major step in India, the fastest growing country in Asia. The combination of our assets places us in a unique position to benefit from India’s shift towards electronic payment transactions and to strengthen our leadership in Indian instore and online payment acceptance.

This marked the 20th successful transaction closure for Avendus in the payments and fin-tech space in India.