Worldline, a pan European card acquirer and e-payment services firm, has agreed to acquire 100% stake in First Data’s fully owned subsidiaries in Lithuania, Latvia, Estonia – known as First Data Baltics- for approximately €73m.
In 2016, First Data Baltics reported revenue of €23m and currently employs nearly 200 people.
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Worldline expects the deal to accelerate the revenue growth of its financial processing division from 2018 onwards.
Worldline will finance the transaction with available cash. The deal transaction is expected to close during the third quarter of 2017.
Commenting on the deal, Worldline CEO Gilles Grapinet said: “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.
“We are extremely happy to welcome in the Worldline Group circa 200 new colleagues and payment experts, led by Zanda Brivule Jansone, a very talented CEO, and her management team. Together, leveraging FDB proven expertise with the strengths of the portfolio and capabilities of equensWorldline, we are in a unique position to deliver the next generation of payment services for the Baltic banking community, and more widely for the customers of the Nordic region.”
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By GlobalDataThe latest acquisition follows on from earlier this month, when Worldline signed agreement to acquire Swedish payment services firm Bambora for €1.5bn ($1.73bn) from Nordic Capital.
