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.
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.
Eurowag founded in 1995 is a leading pan-European integrated payment & mobility platform focused on the commercial road transport industry. Eurowag’s innovative solutions make life simpler for small and medium businesses in the Commercial Road Transportation industry 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