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Welcome Real-Time Partners With AXA |
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PARIS, FRANCE, JUNE 6, 2007 -- In a management buyout, AXA Private
Equity has acquired the majority of the shares of Welcome Real-time, a
global provider of payment software for financial institutions and
payment networks. The remaining shares were purchased by the current
management team.
Sébastien Guillaud, Welcome's CEO, said, "Our performance has been very
good over the past few years, and our biggest and fastest growth is
still to come. Having a fresh, new major investor on board is critical
during this transition phase. AXA Private Equity is very excited about
our potential and will give us all the support we will need to achieve
our goal of becoming irresistible to banks everywhere and a standard in
the payment industry."
Welcome has bank customers in 21 countries around the world. Revenues have been growing at 50% per year. The company's 140 employees are based in Aix-en-Provence, Singapore, Sao Paulo, Paris, London, Milan, Madrid, Miami and Shanghai.
Aneace Haddad, chairman and founder, said, "AXA Private Equity is an ideal partner to drive us forward in this new, exciting phase of our history. Later, when we look back, I am convinced that we will see pre-2007 as a preparation phase and post-2007 as the true growth phase of Welcome."
Laurent Foata, director of AXA Private Equity's venture team, said, "We are delighted to support Welcome in its high profitable growth in the booming market of payment services and systems. Thanks to its strategic vision and its ability to execute, the management team has succeeded in ensuring the international deployment of Welcome's disruptive technology."
Arnaud Dufer, director of AXA Private Equity's small cap buy-out team, added, "This deal was made by leveraging the know-how of both our venture and buy-out teams to tailor a buyout solution matching Welcome's strong growth and managerial commitment."
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