SIA, a European high-tech leader in payment infrastructure and services, and First Data Corporation, a global leader in commerce-enabling technology, have signed an agreement for SIA to acquire First Data’s card processing businesses in parts of Central and Southeastern Europe for €375 million. In 2017, these businesses generated a combined revenue of approximately €100 million for First Data.
This acquisition by SIA provides card processing, card production, call center and back-office services, including 13.3 million payment cards, 1.4 billion transactions, in addition to the management of POS terminals and ATMs. These businesses are primarily located in 7 countries: Greece, Croatia, Czech Republic, Hungary, Romania, Serbia and Slovakia.
First Data remains highly committed to the European issuer processing business, maintaining its focus on serving its significant client base, primarily with its leading VisionPLUS platform.
„As a result of the transaction, SIA will become a leading player in processing and services in the region. The agreement includes the transfer of about 1,400 First Data employees into SIA.”, according to the press release.
“This acquisition is in line with our strategy to become the leading European independent digital payments platform. SIA is further strengthening its position in the e-payments international market, increasing its market shares in e-money high-growth countries,” said Massimo Arrighetti, CEO of SIA.
“This transaction aligns with our focus on portfolio management. While these are solid businesses, aspects of their operations are no longer core to our strategy, and this sale allows us to deploy the proceeds to create value in line with our capital allocation priorities,” said Frank Bisignano, Chairman and CEO of First Data. “We believe we have found an excellent partner for this transaction as SIA’s integrated payment infrastructure and service offerings and presence across Europe make it the perfect home for these businesses and puts our former customers in capable hands.”
The deal is expected to close in the third quarter of 2018 and is subject to normal closing conditions.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
