AXA acquires Welcome Realtime
The remaining shares were purchased by the current management team. The amount of the transaction has not been disclosed.
Welcome had been created in 1996 by High Co and Aneace Haddad in Aix en Provence, France. The company is the leader in card marketing enhancements that create added value at the moment of payment in order to provide benefits to cardholders, retailers and financial institutions. Welcome now has bank customers in 21 countries around the world. Revenues have been growing at 50% per year. The company’s 140 employees are based in Aix-en-Provence, Singapore, Sao Paulo, Paris, London, Milan, Madrid, Miami and Shanghai.
Aneace Haddad, Chairman and founder, said, “AXA Private Equity is an ideal partner to drive us forward in this new, exciting phase of our history. Later, when we look back, I am convinced that we will see pre-2007 as a preparation phase and post-2007 as the true growth phase of Welcome.”