WORLDLINE has agreed to buy French rival Ingenico, creating a new global payments player in a rapidlyconsolidating industry in a €7.8bn (£6.6bn) deal.

The firms said the deal would create a new European leader in the sector and the world's fourth largest payment services provider and would have combined revenues of €5.3bn in 2019.

The deal values Ingenico at a 17 per cent premium on last Friday's closing price.

(c) 2020 City A.M., source Newspaper