Natixis plans to round out its payments business via the acquisition of Comitéo (Alter CE)
Natixis enters into exclusive negotiations with Comitéo’s (Alter CE’s) shareholders with the aim of taking a majority stake in the company. Following the planned deal, the founders would maintain a stake and remain in charge of the company’s operational management. This move seeks to further step up Natixis’ expansion in the payments business, especially in prepaid services.
Alter CE is a French company set up by Cédric Leblanc and Nicolas Mignot in 2008. It provides works councils with the Comitéo solution, a software platform with business functions such as management, accounting, finance, systems for communicating with staff and private social networks, as well as a marketplace that offers a number of products including tickets for shows, cinemas, gift cards and checks, etc.
Alter CE has extended its services range since 2016, creating Affinity, a company customer loyalty program based on white label sales promotions, along with Intensiteam, an employee benefit scheme for SMEs.
Pierre-Antoine Vacheron, member of Natixis’ Senior Management Committee in charge of Payments, notes: “Comitéo has successfully developed a robust and scalable digital platform to act as a one-stop shop for works councils, while its marketplace boasts solid partnerships that provide a number of benefits for employees. The company offers strong potential synergies with our payments solutions, particularly on prepaid services, and Comitéo clients will be able to enjoy access to Natixis Payment Solutions’ high value-added range (specialized vouchers, online common pot Le Pot Commun) as well as online payment solutions. This planned acquisition is a part of Natixis’ aim to extend its presence right along the payments value chain and stand out from competitors on this fast-growing business with a fully digital solution.”
Cédric Leblanc and Nicolas Mignot, Comitéo’s founders, state: “Payment is now a central concern for works councils, so this move seeks to derive the full benefits of Natixis’ expertise in the sector to radically transform our approach to this market, which is estimated to be worth 15 billion euros.
We can very swiftly unlock major synergies to enhance our product and service range on payments, specialized vouchers, mobility and digitalization in the broadest sense of the word. This link with Natixis will also help drive our business development.
Comitéo’s clients and future clients (works councils’ elected members, staff, key accounts) will clearly reap the rewards of this tie-up that combines the clout of a major banking institution with the agility of an innovation-driven company to promote staff wellbeing via their works councils’ services.”
Comitéo was set up by Cédric Leblanc and Nicolas Mignot in 2008 to design and develop innovative web services for companies, authorities and works councils who seek to promote their business with their target audiences.
After ten years in operation, Comitéo has more than 2,500 clients accounting for close to 900,000 staff, and more than 200,000 online references (events, outings, activities, entertainment, etc.).
Comitéo won the 2014 Software and IT Services prize at the Deloitte In Extenso Technology Fast 50 awards for fast-growing tech companies.
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