References

Wirecard AG / Great Indian (GI) Retail Group

Baker Tilly Roelfs advised Wirecard AG on the acquisition of the payment services business of the Great Indian (GI) Retail Private Limited and 60 % of the shares in GI Technology Private Limited (GIT) through a capital increase. Signing took place on October 27, 2015.

The transaction team around Frank Stahl and Friedrich Wamsler supported Wirecard AG within this transaction with comprehensive advice. This contains, in particular, the financial and tax due diligence as well as the advisory service during the agreement negotiations.

Wirecard AG is one of the world's leading independent providers of outsourcing and white label solutions for electronic payment transactions. The Wirecard Group has been supporting companies in accepting electronic payments from all sales channels. A global multi-channel platform bundles international payment acceptances and methods, supplemented by fraud prevention solutions. When it comes to issuing their own payment instruments in the form of cards or mobile payment solutions, Wirecard provides companies with an end-to-end infrastructure, including the requisite licenses for card and account products.

Founded in 2006, Great Indian (GI) Retail Group is one of India’s and South East Asia’s leading electronic payment and retail-assisted e-commerce groups. By combining innovative technology and an agent-assisted service delivery model spread across multiple countries, the Great Indian (GI) Retail Group has built a unique multi-channel platform to efficiently deliver a wide range of commerce offerings and financial services in rural and urban areas.

GI Technology Private Limited (GIT) is a subsidiary of Great Indian (GI) Retail Private Limited and an issuer of prepaid cash-card, mobile-wallet and remittance technology. The GIT provides hundreds of thousands of Indians without bank accounts the ability to use cash for online payments or money remittance. Its cash cards can be topped up at banks, local stores or by mobile phone.

The acquisition secures Wirecard a stake in one of India’s fastest growing licensed Prepaid Payment Instrument (PPI) issuers as well as a Full Fledged Money Changers (FFMC) license in India, enabling the operation of multi-currency transaction and remittance services.

Quick Facts

Wirecard AG

  • Payment service provider
  • Annual sales: EUR 601m (2014)
  • Employees: 1,750 (2014)

Payment services business of Great Indian (GI) Retail Private Limited

  • Provider of electronic payment and retail-based e-commerce solutions

GI Technology Private Limited

  • Provider of prepaid payment instruments

Deal volume

  • EUR 230m plus earn out-component

Services provided

  • Financial Due Diligence
  • Tax Due Diligence
  • Advisory Service during Agreement Negotiations

Team

  • Frank Stahl (Financial)
  • Friedrich Wamsler (Tax)