Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

NCC Group acquires credit card auditor Meridian for up to £3 mln

NCC Group acquires credit card auditor Meridian for up to £3 mln

NCC Group (LSE: NCC) has acquired card services auditing and assurance company Meridian Services International Limited in a cash-only deal that could be worth up to £3 million.

NCC will pay an initial £1.1 million upon completion with two further payments of up to £1.9 million against performance related targets over the next 26 months, all of which will be financed from the group’s existing debt facilities and internally generated cashflow.

The business is expected to contribute over £0.6m of profit before tax on revenues in excess of £1.8 million in the year ending May 2012. Meridian had total assets of £381,502 at the end of May 2009.

“This acquisition is an important step as Meridian's broad range of services, extensive expertise and credentials complement and strengthen the existing offerings for information security, auditing and compliance, an area where we have seen significant growth and where we have a strategy to become a market leader,” said chief executive of NCC Group Rob Cotton.

Meridian specialises in conducting payment scheme logical and physical security audits, as well as offering global strategic advisory services for card manufacturing, data preparation and card personalisation. Its customers include a number of manufacturers of personalised credit cards on behalf of MasterCard and VISA worldwide.

View full NCC profile View Profile

NCC Group Timeline

July 04 2013

Related Articles

Cloudbuy's online purchasing portal
April 18 2018
"We remain convinced that we have a unique product and a great partner in NHS Shared Business Services to maximise the roll-out of PHB's and Integrated Commissioning across Health and Social Care," the company said.
The glass facade of a high-rise building
June 11 2018
The analysts say the Canadian firm has a 'disruptive suite of solutions' for the real estate industry in North America
facial recognition app user
March 01 2018
Fintech company to roll out ID authentication tools amid debut on OTCQB

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use