Electronic banking: with the acquisition of ICPS in Mauritius, the Moroccan HPS is thinking big and strengthening its African leadership

The HPS group has decided not to distribute dividends this year in order to strengthen its financial position within the framework of its growth operations.

HPS finalized yesterday, Wednesday April 7, 2021, the acquisition of the company ICPS, headquartered in Mauritius. This operation considerably increases the African footprint of the Moroccan leader in payment solutions and services, and positions it as a leader in “processing” activity on the continent.

Announced on February 9, the acquisition by HPS of ICPS, headquartered in Mauritius, is now complete. The signing of the deed of sale covering 80% of the shares of the company ICPS was concluded on Wednesday April 7, announced the Moroccan technology company in a press release.

This transaction now positions HPS as a leader in the “processing” activity (i.e. the global banking back-office management activity, which brings together payment and switching on the African market, thanks to its presence in a dozen of countries in French-speaking Africa and the presence of ICPS in some twenty countries in English-speaking Africa.

HPS recalls that the ICPS company it has just acquired offers processing services in the world of payment intended for banks, financial institutions as well as telecom operators and has a rich portfolio of more than 30 customers in 22 countries in Africa and Asia. ICPS today manages more than 6 million cards, more than 600 ATMs, and more than 11,000 points of sale.

ICPS also provides a complete electronic payment platform, based on PowerCARD technology, the HPS software suite used in more than 90 countries around the world, which covers the entire payment value chain, connected to the international American Express networks. , Diners, Discover, MasterCard, UPI and Visa, and covering the entire value chain.

This acquisition follows on from the external growth strategy of the HPS group which began with the acquisition of the company “acpqualife” in France in 2010, the resumption of the “switching” activity in Morocco in 2016, and continued with the acquisition of IPRC in January 2021.

According to the management of HPS, a technology company listed on the Casablanca Stock Exchange since 2006, this external growth strategy is more relevant than ever. “Thanks to external growth, we will reach a critical size much more quickly than through organic growth”, recently explained the management of HPS, during a press conference in Casablanca, devoted to the presentation of the results. company annuals.

Get the latest news delivered to your inbox

Follow us on social media networks

PREV these teleworking parents who have organized themselves differently
NEXT Acetyl-L Carnitine Market Share, Company Profiles and Global Forecast to 2031