SIA Acquires Card Processing Businesses in Central and Southeastern Europe from First Data
May 25 2018 - 3:30AM
Business Wire
SIA, a European high-tech leader in payment infrastructure and
services, and First Data Corporation (NYSE: FDC), 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.
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.
“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.
“Thanks to the agreement with First Data, SIA Group continues on
its path of international growth, confirming its leadership at
European level in a sector like that of electronic payments
undergoing continuous consolidation”, commented Nicola Cordone,
Deputy CEO, Senior Vice President Global Business Solutions of SIA.
“In particular, in Central and Southeastern Europe we will become
the foremost technology provider in a market that in the coming
three-year period will see a rise in payment transactions of over
11% per annum, nearly double the growth of Europe at 6%. With this
acquisition, SIA’s revenues, on a 2017 pro-forma basis, will
increase by around 18% with a significant surge in income from
outside Italy, which will rise from 20% to 33% of the total”.
The deal is expected to close in the third quarter of 2018 and
is subject to normal closing conditions.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180525005156/en/
SIAFilippo Fantasia - Valentina PianaTel. +39
02.6084.2833/2334pressoffice@sia.eu