Eurowag Update on completion of WebEye assets acquisition (8742P)
23 Juin 2022 - 08:00AM
UK Regulatory
TIDMWPS
RNS Number : 8742P
Eurowag
23 June 2022
23 June 2022
EUROWAG
Eurowag completes the acquisition of the first tranche assets of
WebEye, and obtains approval in Hungary in relation to the second
tranche
Further to the announcement on 16 May 2022, W.A.G payment
solutions plc ("Eurowag", or the "Group") a leading pan-European
integrated payments & mobility platform focused on the
Commercial Road Transportation ("CRT") industry, is pleased to
announce that it has completed the first tranche of the acquisition
of substantially all of the assets of WebEye Telematics Zrt.
("WebEye") (the "Transaction"), a leading Fleet Management Solution
provider in Central and Eastern Europe, through the acquisition of
the non-Hungarian subsidiaries of WebEye.
In relation to the second tranche of the acquisition, Eurowag
has obtained the last remaining approval from the Ministry of
Technology and Industry in Hungary to acquire all Hungarian
subsidiaries of WebEye, and therefore completion of the Transaction
is expected to occur in July 2022, subject to customary completion
conditions.
WebEye has an established presence in Europe with a total
portfolio of more than 58,000 connected trucks. The transaction
will expand the Group's customer base, and WebEye's customers will
gain access to Eurowag's unrivalled range of integrated end-to-end
payment and mobility solutions leading to incremental revenue
opportunities. Furthermore, data from the connected trucks will
provide insights and enable the continual development of new and
improved solutions to address customers' needs.
ENQUIRIES
Eurowag
Tomáš Novotný (Head of Investor Relations)
investors@eurowag.com
Michal Malysa (Head of Group Communications)
michal.malysa@eurowag.com
+420 775 70 80 86
About Eurowag
Eurowag was founded in 1995 and is a leading pan-European
integrated payments & mobility platform focused on the
commercial road transportation industry. It makes life simpler for
commercial drivers and operators across Europe through its unique
combination of payments solutions, seamless technology, a
data-driven digital eco-system and high-quality customer service.
www.eurowag.com
About WebEye
WebEye was established in 2001 with focus on CRT customers in
Hungary. Today it is the leader in CRT Fleet Management Solution in
Hungary and Romania, with customers in Bulgaria, Croatia, Czech
Republic, Germany, Poland, Portugal, Slovakia, and Slovenia. WebEye
generated a profit before tax of EUR 3.0 million in the year ended
31 December 2021 and its gross assets were EUR 12.0 million as at
31 December 2021, based on unaudited consolidated management
accounts prepared under Hungarian GAAP.
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END
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