November 5, 2018 / 9:23 AM / 15 days ago

Payments firm Ingenico raises deal expectations with new CEO

PARIS (Reuters) - French payments group Ingenico, which has attracted bid interest from banking company Natixis, named a new chief executive on Monday, sending its shares higher on the prospect that a new board could strike a deal.

Ingenico said Philippe Lazare, who had been at the helm of for the last 11 years, would step down as both chairman and chief executive.

Nicolas Huss would become Ingenico’s new CEO, while Bernard Bourigeaud would become the new chairman, the company said.

Ingenico said last month that it had received “preliminary approaches for a strategic transaction”. Ingenico did not identify its potential suitors, but sources told Reuters that Natixis had been in talks with Ingenico.

Takeover activity within the payments industry has been intensifying as the increasing use of smartphones to make online payments triggered consolidation, with mergers and acquisitions allowing companies to cut costs.

Reporting by Sudip Kar-Gupta; Editing by Alexander Smith

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