Trillium Software
     

8/9/2010

By Sophie Baker

German card acquiring and network service providing company montrada GmbH has been acquired by payment and card processor, Equens SE.

All shares in montrada GmbH have been acquired in the deal. Currently, the company is wholly owned by Commerzbank AG.

The contract between Commerzbank and Equens includes an extensive cooperation agreement, and further cements Equens’ position in the European Cards market.

Equens covers the full value/functionality chain of card processing, and offers clients issuing processing, switching, acquiring processing, acquiring processing services, and commercial acquiring for debit and credit cards. It also offers prepaid solutions.

“The acquisition of montrada is a very important strategic step for us in further expanding our card activities and services in Europe,” said Michael Steinbach, chairman of the Equens Board of directors. “montrada’s strong presence in the German cards market, combined with their highly skilled employees and the extensive cooperation agreement with Commerzbank, will allow us to take advantage of the enormous opportunities in the cards market in Germany and abroad. Our existing clients, the banks, and also global acting merchants, will benefit from this move.”

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