REG - Eurowag - Update on completion of WebEye assets acquisition

WAG Payment SolutionsAnnouncement

23/06/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220623:nRSW8742Pa&default-theme=true

RNS Number : 8742P  Eurowag  23 June 2022

23 June 2022

 

EUROWAG

Eurowag completes the acquisition of the first tranche assets of WebEye, and
obtains approval in Hungary in relation to the second tranche

Further to the announcement on 16 May 2022, W.A.G payment solutions plc
("Eurowag", or the "Group") a leading pan-European integrated payments &
mobility platform focused on the Commercial Road Transportation ("CRT")
industry, is pleased to announce that it has completed the first tranche of
the acquisition of substantially all of the assets of WebEye Telematics Zrt.
("WebEye") (the "Transaction"), a leading Fleet Management Solution provider
in Central and Eastern Europe, through the acquisition of the non-Hungarian
subsidiaries of WebEye.

In relation to the second tranche of the acquisition, Eurowag has obtained the
last remaining approval from the Ministry of Technology and Industry in
Hungary to acquire all Hungarian subsidiaries of WebEye, and therefore
completion of the Transaction is expected to occur in July 2022, subject to
customary completion conditions.

WebEye has an established presence in Europe with a total portfolio of more
than 58,000 connected trucks. The transaction will expand the Group's customer
base, and WebEye's customers will gain access to Eurowag's unrivalled range of
integrated end-to-end payment and mobility solutions leading to incremental
revenue opportunities. Furthermore, data from the connected trucks will
provide insights and enable the continual development of new and improved
solutions to address customers' needs.

 

ENQUIRIES

Eurowag

Tomáš Novotný (Head of Investor Relations)

investors@eurowag.com (mailto:investors@eurowag.com)

 

Michal Malysa (Head of Group Communications)

michal.malysa@eurowag.com (mailto:michal.malysa@eurowag.com)

+420 775 70 80 86

 

About Eurowag

Eurowag was founded in 1995 and is a leading pan-European integrated payments
& mobility platform focused on the commercial road transportation
industry. It makes life simpler for commercial drivers and operators across
Europe through its unique combination of payments solutions, seamless
technology, a data-driven digital eco-system and high-quality customer
service. www.eurowag.com (http://www.eurowag.com/)

About WebEye

WebEye was established in 2001 with focus on CRT customers in Hungary. Today
it is the leader in CRT Fleet Management Solution in Hungary and Romania, with
customers in Bulgaria, Croatia, Czech Republic, Germany, Poland, Portugal,
Slovakia, and Slovenia. WebEye generated a profit before tax of
EUR 3.0 million in the year ended 31 December 2021 and its gross assets
were EUR 12.0 million as at 31 December 2021, based on unaudited
consolidated management accounts prepared under Hungarian GAAP.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQBRGDLSXDDGDD