Sandpiper Digital Payments AG, CH0033050961

Sandpiper Digital Payments AG, CH0033050961

09.11.2018 - 07:58:05

EQS-News: SANDPIPER Digital Payments AG sells majority of PAIR Solutions GmbH

SANDPIPER Digital Payments AG sells majority of PAIR Solutions GmbH St. Gallen, 9. November 2018 - SANDPIPER Digital Payments AG (BX Swiss, Ticker: SDP, www.sandpiper.ch, Open Market, Frankfurt, ISIN: CH0033050961) announces the divestment of 75% of PAIR Solutions GmbH to an external investor, reducing the SANDPIPER shareholding from 100% to 25%.

PAIR Solutions GmbH is a certified service specialist for cashless payment of meals and clearing of local as well as administrational subsidies for schools, kindergartens, care centers, caterers, administrations and cities. PAIR provides individualized modular systems, consisting of first-class telephone and technical support, meal plan administration, lists, apps, web platforms, smart RFID cards as well as innovative and efficient fingerprint technology.

"We are happy to win an operative partner, knowing the market as well as the company, to further develop PAIR. At the same time SANDPIPER will intensify its focus on selected and profitable subsidiaries as well as growing markets like smart cities," states Dr. Cornelius Boersch, president of the board of directors at SANDPIPER.

After a very successful part-time interim management period of one year, the current CEO of PAIR Frank Steigberger will hand over his responsibility, to focus even more intensely on the further successful development of the SANDPIPER portfolio. The purchasing price was agreed to remain confidential. PAIR was contributing approximately EUR 500.000 to the revenue of SANDPIPER in 2017. The transaction will lead to a loss on the stand alone financial statement, while it will generate a booking profit of EUR 700.000 on the consolidated accounts of SANDPIPER.

About SANDPIPER Digital Payments AG

SANDPIPER Digital Payments AG, www.sandpiper.ch, is a stock-listed holding company focusing on innovative mobile and digital payment systems, multi-application solutions like physical and logical access as well as its underlying digital security services and technologies. SANDPIPER belongs to the leading and biggest providers of closed-loop payment and loyalty systems for educational facilities, public authorities, event and mobility operators, retailers and brands.

SANDPIPER holds majorities in the companies InterCard AG Informationssysteme, Ergonomics AG, IDpendant GmbH, Multicard Nederland B.V.

Contact: E-mail news@sandpiper.ch; Fax: +41-44-7838040; Website: www.sandpiper.ch

End of Corporate News

Language: English Company: Sandpiper Digital Payments AG Poststrasse 17 9001 St. Gallen

Switzerland Phone: +41 44 783 80 49 Fax: +41 44 783 80 40 E-mail: news@sandpiper.ch Internet: www.sandpiper.ch ISIN: CH0033050961 Valor: A0MYNQ Listed: BX Berne eXchange   End of News EQS Group News Service

743641  09.11.2018 

@ dgap.de