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Italy-based Nexi incorporates SIA in a merge worth EUR 15 bln

Tuesday 6 October 2020 06:01 CET | News

Italy-based Nexi, a digital payments company, has merged with SIA, an Italian provider of payment technology, in a deal worth EUR 15 bln.

 

The companies signed a memorandum of understanding regarding the integration of the two groups through the merger by incorporation of SIA into Nexi.

The new group aims to cover their previous entire combined value chain of digital payments serving all market segments. The new offering includes digital payments acceptance services for small and large merchants, omnichannel and ecommerce solutions, issuing and management of cards to mobile payments apps, B2B digital payments solutions to Open Banking, as well as clearing and trading services for the main Italian and international institutions.

Subject to certain conditions, the parties aim to complete the transaction by the summer of 2021. The current corporate governance of Nexi is confirmed, with the current board of directors chaired. This will be strengthened at the closing of the transaction, with the appointment of five or six, depending on shareholder ownership at closing new directors.


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Keywords: Nexi, SIA, Italy, merge, payment technology, digital payments, B2B payments, mobile payments
Categories: Payments & Commerce | Online Payments
Countries: Italy
This article is part of category

Payments & Commerce