KTM to purchase all shares of Wirecard Technologies Indonesia

By Leandra Monteiro

On 12 April 2021, PT Kreasi Teknologi Makmur (KTM) has signed an agreement with Wirecard Group entities to purchase all shares of PT Wirecard Technologies Indonesia (WDTI) including its newly established Malaysian subsidiary Wide Technologies Sdn Bhd. The closing of this transaction is subject to certain customary closing conditions.

WDTI is a provider of digital software products for banks in Indonesia, Malaysia and other Southeast Asian countries. With its PrimeCash transaction banking solution, WDTI enables banks to offer solutions to corporate customers for management of payments, payroll, taxes, receivables, liquidity and supply chain financing. A significant proportion of Indonesian, Malaysian and Vietnamese consumers also use the retail banking products developed by WDTI to access banking services via websites and mobile apps.

With the backing of KTM, WDTI aims to strengthen its relationship with existing customers and continue to grow its business in Indonesia and Southeast Asia. WDTI is committed to support its customers to rapidly advance the digitalisation of their corporate and retail banking offerings, especially during the current COVID-19 pandemic.

“This is a great moment. Now, WDTI is able to strengthen even more our commitment to our partner banks, invest in product improvements and achieve long-term growth,” said Oliver von Quadt, President Director.

“KTM provides us the financial backbone to heavily invest in further product development to strengthen our technical leadership,” added Pardjo Yap, CFO.

“We see strong potential to grow a local champion in Indonesia to become an international champion in its segment. We are committed to serve the existing customers and utilize synergy effects within our group of companies,” said Vincent Oei, Investor Relations Manager.