Ogone SA/NV Teams with Growth Equity Investor Summit Partners

Investment in leading pan-European online payment services provider to fund continued rapid growth

Ogone SA/NV, one of Europe’s leading service providers specializing in the processing of online payments, announced today that growth equity investor Summit Partners has entered into a binding agreement to acquire a majority stake in the company. Financial terms of the transaction were not disclosed.

As part of the transaction, Ogone will remain an independent company. Summit Partners is partnering with the existing management team, led by Ogone’s CEO Peter de Caluwe and founders, who will remain significant shareholders and advisors.

Ogone’s online payment platform solution extends across 35 countries and provides sophisticated payment processing services to more than 20,000 merchants. The company has a network of more than 150 bank and acquirer connections, and offers in excess of 40 payment methods. Founded in Brussels in 1996, Ogone has grown rapidly throughout Europe and today has offices in Belgium, the Netherlands, France, Germany, Switzerland, Austria and the United Kingdom.

Ogone CEO Peter de Caluwe said, “Summit Partners brings invaluable experience in online services and technology investments, and is uniquely positioned to help drive the rapid expansion of our business. We will utilize Summit’s financial experience, strategic resources and significant network to further expand Ogone’s international presence and grow our customer base. ”

Christian Strain, a Principal of Summit Partners who will join the company’s Board of Directors, said: “We look forward to working closely with Ogone’s CEO Peter de Caluwe and the rest of the management team to continue growing this exceptional company. The online payment services industry continues to grow in size, technological complexity, and in global reach. Ogone, with its leading edge platform, is ideally positioned to serve this marketplace."

“Under the exceptional leadership of its founders, CEO and its management team, Ogone has grown rapidly since its inception. We are delighted to be an investor in the business,” added Scott Collins, a Managing Director with Summit Partners who is also joining the board.

The transaction is expected to close by the end of May. Ogone was advised on the transaction by White & Case, LLP and Credit Suisse Securities (Europe) Limited. Summit Partners was advised by Kirkland & Ellis, LLP and NIBC Bank N.V.