MILAN & NEW YORK–(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
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.
Filippo Fantasia – Valentina Piana