Bango acquires global payments business of NTT DOCOMO
By Leandra Monteiro
Bango plc, the global platform for data-driven commerce, announced that it has acquired the global payments business of NTT DOCOMO. In addition, Bango has signed a long-term platform deal with NTT DOCOMO to provide payment services in Japan for the world’s largest merchants.
Bango CEO, Paul Larbey said, “Acquiring DOCOMO Digital strengthens our position as a world leader in data-driven commerce. The decision by NTT DOCOMO to transfer its global payments business to Bango is a major endorsement of our technology in the fast-growing digital economy. Through the Bango Platform, telcos can leverage the universal appeal of the world’s biggest online brands and digital merchants can immediately reach new customers. Both will benefit from data-driven insights, giving consumers greater access to goods and digital services.”
DOCOMO Digital provides payment services to app stores and digital merchants worldwide, in the fastest-growing payments segment. By expanding the Bango Payments ecosystem to more merchants and more telcos, Bango brings new users and more transactions to the Bango Platform. This increases the pool of payment data available to create insights that help Bango customers focus their online marketing, accelerating their revenue growth. This, in turn, drives more end user spend, fuelling the growth of Bango and everyone connected to the Platform.
NTT DOCOMO’s carrier billing services for app stores and merchants will migrate to the Bango Platform. This Platform Agreement is in addition to the existing Amazon physical goods carrier billing agreement between NTT DOCOMO and Bango.
The gross consideration for the Acquisition is €4 million, funded using existing Bango cash. At completion, DOCOMO Digital had a cash balance of €3.1 million. Bango expects to fund the integration of the Acquisition, including the migration of customers to the Bango Platform, from operating activities and existing cash. In addition, a recent contract provides Bango with significant working capital over the next 12-18 months, before normalizing over the life of the contract. The Acquisition is expected to be earnings accretive in the first full year (FY2023) and materially earnings accretive once the integration has been fully completed.
NTT DOCOMO General Manager of Wallet Service Department, Tsutomu Tahara said, “We believe there is a big benefit for the digital payments industry in supporting a common platform technology. Bango is uniquely placed with market leading technology that will benefit our customers in Japan and our merchant partners worldwide. Bango’s role as an independent platform and trusted partner presents a great opportunity to accelerate growth of the global payments ecosystem.”
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