Worldline acquires First Data Baltics for €73m
Written by Anthony Strzalek
Payments firm Worldline has acquired First Data Baltics (FDB) – the fully owned subsidiaries of the First Data Corporation in Lithuania, Latvia and Estonia – for €73 million.
Earlier this week, Worldline signed the agreement with First Data Corporation for the acquisition of 100 per cent of the share capital of FDB. The transaction is expected to close during the third quarter of 2017.
FDB currently employs around 200 employees and provides the main Baltic banking groups – and also some banks in the wider Nordic region – with a range of outsourcing services such as interbank clearing and switching; issuing processing and associated value added services; ATM management; merchant services for acquiring banks through acquiring processing, including e-commerce capabilities and the lease and maintenance of payment terminals.
Gilles Grapinet, Worldline CEO, said: “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.”