French payments processor Worldline has entered exclusive negotiations to sell its digital services division to tech group Magellan Partners in a €410 million transaction.
Worldline is considering divesting certain assets as part of a “strategic refocus.” In June, the company’s share price plummeted following allegations from various media outlets that it had concealed client fraud to safeguard its revenue.
The sale will involve the Mobility & e-Transactional Services (MeTS) division, along with some digital banking operations that primarily function outside of its main payments activities. This MeTS segment generated approximately €450 million in revenue in 2024 and employs about 3,800 people, mainly in France, the UK, Spain, Germany, Austria, Belgium, and India.
Magellan Partners has submitted a binding offer that includes an upfront enterprise value of €400 million, plus an additional contingent payment of €10 million based on the operating performance in 2025.
Worldline states that the deal would streamline its operations and allow the company to concentrate on its core payment services for merchants and financial institutions.
CEO Pierre-Antoine Vacheron remarked, “We are embarking on a pivotal transformative chapter for Worldline with increased focus on our core activities. This transaction marks the first step in our journey and reinforces our strategic confidence in our payments expertise while empowering MeTS to drive its digital transformation as an independent leader.”
This divestiture follows a challenging first half for Worldline, which saw a €4.1 billion decline in its merchant business, alongside a significant overhaul of its management team.