Identive to acquire Payment Solution AG
payment solution’s systems enable consumers at sporting and similar events to make quick, cashless payments for food, beverages and merchandise using contactless smart card technology. The systems consist of comprehensive payment management software, smart cards, and reader and communication infrastructure, all supplied and implemented by payment solution. The company offers its customers the option of purchasing of a turnkey solution or entering into a multi-year contract under which payment solution continues to operate and maintain responsibility for the cashless payment system over a set period, in return for sharing in the revenue generated at various events held in the stadium or other venue.
The acquisition is performed through Bluehill ID, Identive’s Swiss-based subsidiary, which entered into agreements with 18 shareholders of payment solution, representing approximately 58.8% of the outstanding share capital of that company. The transaction values 100% of the shares of payment solution at approximately EUR 4.0 million.