SEQR Nordics AB ("Seamless") (OMX: SEAM), provider of the mobile payment solution SEQR, has entered into an agreement with Ingram Micro Mobility Sweden AB and Ingram Micro Mobility Denmark A/S ("Ingram Micro Mobility") to acquire their non-core mobile prepaid airtime line of business in Sweden and Denmark. The acquisition is subject to certain conditions being met by the parties and is planned to become effective early 2015. This new line of business becomes a strategic extension of Seamless' existing eProduct distribution. Through the acquisition, Seamless adds Denmark to its markets. Combined with the mobile payment solution SEQR, the mobile refill and other eProducts creates a strong and profitable offer to the more than 2,000 retailers in the two countries. As a result of the acquisition Seamless will more than double its revenue.
- "Seamless is a leading global technology provider for distribution of prepaid top up since more than a decade and its mobile payment solution SEQR is the most used in stores and online. With this line of business acquisition, we increase our distribution business in Sweden, enter the Danish market and further strengthen our service offering to retailers. We will also significantly increase our revenue within the Seamless business area Distribution", says Seamless CEO Peter Fredell.
Ingram Micro Mobility and Seamless will collaborate for a smooth transition of existing mobile prepaid airtime customers in Sweden and Denmark.
Seamless can now offer retailers both mobile prepaid and a mobile payment solution through SEQR, both contributing to increase in-store traffic and loyal customers. The acquisition opens up distribution of loyalty and gift cards and is in line with the latest agreements with global players Seamless has signed agreements with recently, such as InComm in the US.
- "Seamless is perfectly positioned to execute on this business and we will work closely with their team to assist with the successful transition of customers. The evolution of mobile prepaid airtime in Sweden and Denmark has moved this business outside our core offering and we are pleased that Seamless will continue this business. Despite moving out of this specific line of business, we remain focused on providing our core value added mobility solutions to our mobile network operator and vendor partners", says Ulrich Egeskov, Vice President of Distribution, Sales and Marketing Nordics, Ingram Micro Mobility.
More at www.ingrammicro.com
Ingram Micro Mobility is a leading provider of device lifecycle services - with the ability to provide complete lifecycle capabilities from basic warehousing to software loading, order and accounts receivable management, end-user fulfilment, and reverse logistics, which includes services from repair to refurbishment and recycling of mobile devices.
This information is such information that Seamless Distribution AB (publ) is required to disclose pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instrument Trading Act. The information was released for publication on September 22nd, 2014 at 07.50 am (CET).
ABOUT SEQR, by Seamless
SEQR (se•cure) is Sweden’s and Europe’s most used mobile wallet in stores and online. SEQR enables anybody with a smartphone to pay in stores, at restaurants, parking lots and online, transfer money at no charge, connect loyalty programs, store receipts digitally and receive offers and promotions directly through one mobile app. Through the SEQR app, the user simply scans or taps a QR-code/NFC at check-out and approves the purchase by entering a PIN code. Fast, smooth and safe, SEQR’s payment solution enables merchants to lower interchange fees significantly compared to those charged by traditional card companies. SEQR’s unique transaction platform has been developed by Seamless, one of the world’s largest suppliers of payment systems for mobile phones.
Founded in 2001 and active in 30 countries, Seamless handles more than 3, 1 billion transactions annually through 525 000 active sales outlets. 5 200 merchants have chosen SEQR including Sweden’s largest grocery chains, fast food chains and national retailer chains including McDonald’s, Hemköp and Ur&Penn. SEQR was launched in Romania in 2013, in Finland in 2014. In 2013, SEQR won the Mobile Money Global Award for Best Mobile Money Deployment in Europe. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker. www.seqr.com