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| Date | 23 Jun 2022 |
| Time | 07:00:05 |
| Category | Acquisitions and alliances |
| ID | 8742P |
23 June 2022
EUROWAG
Eurowag completes the acquisition of the first tranche assets of WebEye, and obtains approval in Hungary in relation to the second tranche
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 ("CRT") industry, is pleased to announce that it has completed the first tranche of the acquisition of substantially all of the assets of WebEye Telematics Zrt. ("WebEye") (the "Transaction"), a leading Fleet Management Solution provider in Central and Eastern Europe, through the acquisition of the non-Hungarian subsidiaries of WebEye.
In relation to the second tranche of the acquisition, Eurowag has obtained the last remaining approval from the Ministry of Technology and Industry in Hungary to acquire all Hungarian subsidiaries of WebEye, and therefore completion of the Transaction is expected to occur in July 2022, subject to customary completion conditions.
WebEye has an established presence in Europe with a total portfolio of more than 58,000 connected trucks. The transaction will expand the Group's customer base, and WebEye's customers will gain access to Eurowag's unrivalled range of integrated end-to-end payment and mobility solutions leading to incremental revenue opportunities. Furthermore, data from the connected trucks will provide insights and enable the continual development of new and improved solutions to address customers' needs.
ENQUIRIES
Eurowag
Tomáš 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
About WebEye
WebEye was established in 2001 with focus on CRT customers in Hungary. Today it is the leader in CRT Fleet Management Solution in Hungary and Romania, with customers in Bulgaria, Croatia, Czech Republic, Germany, Poland, Portugal, Slovakia, and Slovenia. WebEye generated a profit before tax of EUR 3.0 million in the year ended 31 December 2021 and its gross assets were EUR 12.0 million as at 31 December 2021, based on unaudited consolidated management accounts prepared under Hungarian GAAP.