Worldline says it has signed an agreement with First Data for the acquisition of 100% of the share capital of First Data’s fully owned subsidiaries in Lithuania, Latvia, Estonia (together “First Data Baltics” or “FDB”) for c.€73 million, financed by available cash.
Having generated revenue of c.€23 million in 2016, FDB currently employs 200 employees and is the leading financial processor in the Baltics, providing to the main Baltic banking groups and also to some banks in the wider Nordic region, a large range of outsourcing services such as:
- Interbank clearing & switching;
- Issuing processing and associated value added services;
- ATM management;
- Merchant services for acquiring banks through acquiring processing, including e-commerce capabilities;
- Lease and maintenance of payment terminals.
“The acquisition of First Data Baltics is a significant development for our Group to accelerate the execution of our Pan-European consolidation strategy in Financial Processing services. In one transaction, we gain a leading position in the fast-developing countries of Latvia, Lithuania and Estonia, we reinforce our group capabilities in the north of Europe and will establish new relationships with numerous prestigious Baltic and Nordic banks,” explains Gilles Grapinet, Worldline General Manager.
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