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SIA acquires card-processing businesses from First Data

Friday 25 May 2018 09:56 CET | News

SIA and First Data have signed an agreement for SIA to acquire First Data`s card processing businesses in Central and Southeastern Europe for EUR 375 million.

The 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 Greece, Croatia, Czech Republic, Hungary, Romania, Serbia and Slovakia.

As a result of the transaction, SIA will become an important player in processing and services in the region. The agreement also includes the transfer of about 1,400 First Data employees into SIA.

The deal is expected to close in the third quarter of 2018 and is subject to normal closing conditions. Deutsche Bank and K&L Gates were respectively financial advisors and counsel to First Data on the transaction. HSBC acted as financial advisor to SIA, White & Case as legal advisor and PWC as tax and accounting due diligence advisor.

For more information about First Data, please check out a detailed profile of this company in our dedicated, industry-specific online company database.


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Keywords: SIA, card-processing, First Data, Europe, Deutsche Bank, HSBC
Categories:
Countries: World