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Ingenico Acquires TNET

  • Ingenico has acquired Italy-based POS terminals specialist TNET Centro Servizi Monetici. This terminal maintainer TNET was created in 1998 and focuses on on-site POS card terminal servicing.
  • Thanks to several contracts, it should now manage some 50,000 terminals. Ingenico thus expands its base to nearly 300,000 POS terminals.
  • No information has been disclosed regarding the amount of this transaction.
  • Several other partnerships enable the French manufacturer to position itself on the developing contactless market and further enhance its growth opportunities. A contactless payment pilot has for instance been launched in Czech Republic.
  • Ingenico was unable to benefit from VeriFone/Hypercom merger in the US but has not given up its international development ambition: several contracts have been signed to cover the most promising sectors (e.g. NFC POS terminals ordered by Google – See May 2011 Insight).
  • Also, in March 2011, the company announced the number of contactless terminals delivered in 2010 had doubled compared to 2009; over 21% of those sold to merchants embedded NFC feature (See March 2011 Insight).