HPS completes the acquisition of ICPS in Mauritius

HPS completes the acquisition of ICPS in Mauritius
HPS completes the acquisition of ICPS in Mauritius
HPS

HPS, a specialist in payment solutions and services, finalized the acquisition of ICPS in Mauritius, announced on February 9.

Following the lifting of the last conditions precedent related to administrative authorizations as provided for by the regulations in force, HPS and ICPS thus proceeded, on April 7, to the signing of the deed of sale relating to 80% of the shares of the company. company ICPS, indicates HPS in a press release received Thursday at the MAP.

ICPS offers global payment processing services to banks, financial institutions as well as telecom operators, the same source said, noting that the company has a rich portfolio of more than 30 clients in 22 countries in Africa and in Asia, including the MCB group.

ICPS today manages more than 6 million cards, more than 600 automatic teller machines and more than 11,000 points of sale. It also provides a complete electronic payment platform based on PowerCARD technology, connected to the international networks American Express, Diners, Discover, MasterCard, UPI and Visa and covering the entire value chain.

“The acquisition of ICPS is an important development for HPS which will accelerate the development of the Group’s Processing activity in Africa. Indeed, this transaction positions HPS as a processing leader on the African market thanks to its presence in a dozen countries in French-speaking Africa and the presence of ICPS in around twenty countries in English-speaking Africa “, underlines HPS.

Thus, the combination of HPS and ICPS will make it possible to create a center of expertise around PowerCARD technology in English-speaking Africa, thus strengthening the position of ICPS and more generally of the HPS group in this region.

It is also a question of pooling the infrastructures of the two companies for better efficiency and better profitability in addition to giving the Processing activity of the HPS group a critical size to address Tier1 and Tier2 customers in Africa.

Based on the ICPS financial statements closed at the end of June 2020 and showing a turnover of 100 million dirhams, the Processing activity consolidated at the end of this transaction should represent nearly 25% of the overall activity. of HPS, leading to a significant increase in the group’s recurring revenues, which will thus reach 65% of all HPS activities, estimates the same source.

HPS is a multinational, leading provider of payment solutions and services for issuers, acquirers, processors, independent sales organizations (ISOs), retail businesses, mobile network operators (MNOs) as well as national and regional switches around the world.

PowerCARD, the complete software suite from HPS, covers the entire payment value chain by enabling innovative payments thanks to its open platform that allows the processing of all transactions initiated by all means of payment, originating from all canals. PowerCARD is used by over 400 institutions in over 90 countries. Listed on the Casablanca Stock Exchange since 2006, HPS has offices in the main business centers (Africa, Europe, Asia, Middle East).

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