December 17, 2018 / 7:54 AM / 6 months ago

Payments firm Ingenico drops deal talks, working on new strategy plan

PARIS, Dec 17 (Reuters) - Payments company Ingenico , which had attracted bid interest after a string of profit warnings, said it had dropped talks over a possible deal and was working on a new strategy plan.

“Ingenico Group...hereby announces that it will not pursue discussions in response to the preliminary approaches for a strategic transaction that it has received,” the company said in a statement on Monday.

Last month, Ingenico named Nicolas Huss as chief executive to lead the company’s strategic review.

Sources had told Reuters that Ingenico had attracted bid interest from Edenred and Natixis, only for those two companies to decide against making any offer.

Takeover activity within the payments industry has been intensifying as the increasing use of smartphones to make online payments triggers consolidation.

Ingenico’s shares have fallen by around 36 percent in 2018. (Reporting by Sudip Kar-Gupta; editing by Jason Neely)

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