Wirecard buys Brazilian online payments firm for 23.5 million euros

Reuters News
Posted: Feb 22, 2016 7:24 AM

FRANKFURT (Reuters) - German payment services payment provider Wirecard said on Monday it had bought smaller Brazilian peer Moip Pagamentos SA from venture capital fund Ideiasnet SA and management for 23.5 million euros ($26 million) in cash.

As part of the deal, Wirecard may owe further earnout payments totaling up to 13.5 million euros, based on Moip reaching certain financial results in 2016, 2017 and 2018 fiscal, Wirecard said.

($1 = 0.9060 euros)

(Reporting by Maria Sheahan; Editing by Victoria Bryan)