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Edenred buys U.S. firm CSI for around $600 million

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Staff Writer | Friday November 9, 2018 3:58AM ET
Edenred
Acquisition   CSI provides corporate payment solutions

French meal vouchers and card provider company Edenred is buying U.S. firm Corporate Spending Innovations (CSI) for around $600 million.


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CSI provides corporate payment solutions, and Edenred's acquisition marks the latest takeover in the sector.

Technological changes in payments and new consumer habits, such as the use of smartphones, have triggered consolidation in the sector, despite increasing regulatory scrutiny, with such deals offering the potential for cost savings.

Edenred, which has decided against buying a stake in French payments company Ingenico, said the CSI takeover should boost group earnings before interest and tax (EBIT) from 2019 onwards.

 

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