French payments firm Worldline, a subsidiary of Atos, has agreed to acquire SIX Payment Services, the payment services arm of Swiss stock exchange operator SIX, for €2.3bn.

The deal consideration includes a cash payment of €283m and issue of 49.1 million new Worldline shares.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Following the completion of the deal in the fourth quarter of this year, SIX would own a 27% stake in Worldline while Atos will continue to hold a majority stake of 51% in the company.

The deal, currently pending regulatory approvals, will increase Worldline’s headcount by 1,600.

Worldline expects the deal to increase its group revenue by 30% and to be accretive to earnings per share from 2019.

The French payments company also expects the acquisition to increase its merchant services business and financial services business by 65% and 12%, respectively. The merged entity will have a 10% European market share in merchant acquiring and 20% share in financial services, Worldline said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal will offer Worldline new payment market positions in Switzerland, Austria, Luxembourg and major reinforcement in Germany.

The transaction is expected to offer synergies of €110m by 2022, of which 50% is expected in 2020.

Worldline CEO Gilles Grapinet said: “Together, we will benefit from reinforced industrial scale, numerous synergies and complementarities that will boost our development, our profitability and that will at the same time, enlarge significantly our offerings to our customers, strongly benefit to our shareholders while opening new professional development opportunities for our all our employees.

“Through this merger, our Company with its intact financial firepower and its unrivalled size in our continent, will be better positioned than ever to continue its strategic endeavour to build, in the heart of Europe, a new global leader of the payment industry.”