Eurowag completes the acquisition of WebEye assets
1 Jul 2022
EUROWAG
Eurowag completes the acquisition of substantially all of the assets of WebEye
Further to the announcement on 16 May 2022, W.A.G payment solutions plc ("Eurowag", or the "Group") a leading pan-European integrated payments & mobility platform focused on the Commercial Road Transportation industry ("CRT"), is pleased to confirm today that it has completed the acquisition of substantially all of the assets of WebEye Telematics Zrt. ("WebEye", or the "Seller"), a leading Fleet Management Solution provider in Central and Eastern Europe, from the Seller.
WebEye has an established presence in Europe with a total portfolio of more than 58,000 connected trucks. It generated revenues of EUR 16.4 million and normalised adjusted EBITDA of EUR 5.6 million in the year ended 31 December 2021, based on unaudited consolidated management accounts prepared under Hungarian GAAP. WebEye is led by Pál Németh, who has been instrumental in the growth of the company, and will continue to manage the acquired business and oversee its integration into Eurowag.
Martin Vohánka, CEO and Founder of Eurowag, said:
"I am pleased we have completed this transaction, which expands the Group's customer base, and provides WebEye's customers with access to Eurowag's unrivalled range of integrated end-to-end payment and mobility solutions. Data from a greater number of connected trucks will help us provide more accurate insights and enable the continual development of new and improved solutions to address customers' needs. I appreciate the team's hard work to deliver our first acquisition as a public company and look forward to working with Pál and the rest of the WebEye team going forward."
ENQUIRIES
Eurowag
Tomá Novotný (Head of Investor Relations)
Michal Malysa (Head of Group Communications)
+420 775 70 80 86
About Eurowag
Eurowag was founded in 1995 and is a leading pan-European integrated payments & mobility platform focused on the commercial road transportation industry. It makes life simpler for commercial drivers and operators across Europe through its unique combination of payments solutions, seamless technology, a data-driven digital eco-system and high-quality customer service. www.eurowag.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund