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E
Financial
E.4
Consolidated financial statements
Atos
|
Registration Document 2016
163
E
Paysquare
•
by Atos.
On September 30, 2016, Worldline acquired from Equens 100% of its commercial acquiring subsidiary Paysquare for a cash
consideration paid of € 113.2 million. Paysquare is fully consolidated in Atos Group since October 1, 2016. Paysquare is held at 70.1%
The fair value of Equens and Paysquare net assets acquired are set out in the table below:
(in € million)
liabilty assumed
Assets acquired and
Fixed assets
202.3
Net debt
36.6
Provisions
-54.4
Other net assets
-36.6
Fair value of acquisition
147.8
Preliminary goodwill of Equens and Paysquare
The Group has opted to measure the Equens' non-controlling interests at fair value (full goodwill method).
(in € million)
PreliminaryGoodwill
Consideration transferred for Equens
178.5
Consideration transferred for Paysquare
113.2
Total consideration
291.7
Fair value of Non Controlling Interets
221.8
Equity acquired (Equens & Paysquare)
84.1
Customer relationships acquired net of deferred tax
63.7
Fair value of identifiable net assets
147.8
TOTAL
365.6
The valuation of assets acquired and liabilities assumed at their
amortization expense of € 2.5 million was recorded for the
three-month period ended December 31, 2016.
an independent expert. Customer relationships are being
amortized on a straight line basis over 6.5 to 9.5 years. An
fair value has resulted in the recognition of new customer
relationships for a total amount of € 88.8 million determined by
amounts, then the acquisition accounting will be revised at that
time.
acquisition date about facts and circumstances that existed at
the acquisition date that would lead to adjustments to the above
If new information is obtained within one year from the
expected to be achieved from integrating Equens and Paysquare
operations into the Group.
The residual goodwill is attributable to Equens’ highly skilled
workforce and specific know-how. It also reflects the synergies
The goodwill arising from this acquisition is not tax deductible.
Acquisition-related costs
statement, of which € 7.2 million in 2015 and € 5.2 million in
2016.
costs. These costs have been recognized in “other operating
income and expenses” in the Group’s consolidated income
The Group incurred € 12.4 million of legal fees and due diligence
2016 revenue and result as though the acquisition had
occured on January 1, 2016
If the acquisition of Equens and Paysquare had occured on
January 1, 2016, the twelve-month revenue for 2016 would
would have been € 14.7 million (including Paysquare's Visa
proceeds in the first semester 2016 for € 42.9 million).
have been € 319.8 million and the twelve-month net income