In an official announcement yesterday, Bango confirmed that the company had purchased the global payment business of NTT DOCOMO (DOCOMO Digital) for a gross consideration of €4 million.
In addition to the acquisition, Bango noted that it has inked a long-term platform deal with the company to provide payment services in Japan for the world’s biggest merchants. Bango aims to accelerate the expansion of its global partnerships with major customers through the recent acquisition.
“Acquiring DOCOMO Digital strengthens our position as a world leader in data-driven commerce. The decision by NTT DOCOMO to transfer its global payments business to Bango is a major endorsement of our technology in the fast-growing digital economy. Through the Bango Platform, telcos can leverage the universal appeal of the world’s biggest online brands, and digital merchants can immediately reach new customers. Both will benefit from data-driven insights, giving consumers greater access to goods and digital services,” Bango’s CEO, Paul Larbey commented.
Financial Highlights
Bango mentioned that the acquisition will bring an expected revenue contribution of $5 million in FY2022 and approximately $16 million in FY2023. On top of that, the recently acquired company brought a cash balance of 3.1 million euros.
NTT DOCOMO’s General Manager of Wallet Service Department, Tsutomu Tahara said: “We believe there is a big benefit for the digital payments industry in supporting a common platform technology. Bango is uniquely placed with market-leading technology that will benefit our customers in Japan and our merchant partners worldwide. Bango’s role as an independent platform and trusted partner presents a great opportunity to accelerate the growth of the global payment ecosystem.”
“After many years competing with DOCOMO Digital, we know the business and the team well. This Acquisition of DOCOMO Digital is a key, strategic deal for Bango and solidifies our leadership in the market. With the support of NTT DOCOMO, DOCOMO Digital developed relationships with the high-quality operator and merchant customers, and we are excited to bring them the benefits of the Bango Platform,” Ray Anderson, the Executive Chair of Bango, added.
