Portuguese payments processor Sibs is expanding its presence in central Europe through the acquisition of Poland’s ITCard. Financial terms were not disclosed.
Editorial
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
Payment service operator ITCard specialises in ATM services under the Planet Cash brand, electronic payment processing through the Planet Pay terminal network, as well as the issuance and maintenance of Visa and Mastercard cards.
The firm’s 470 employees will join Sibs under the binding agreement, working with the current management team.
Sibs, which has been in Poland since 2008 and picked up the Romanian operations of collapsed German giant Wirecard back in 2020, says the ITCard deal reinforces its commitment in the region, adding 181,000 POS units and 5,500 ATMs.
Rui Lima, chief international officer, Sibs, says: “Sibs’ acquisition of ITCard represents a key step in consolidating our European presence and in delivering long-term value for our clients and partners through technology-driven innovation.”
Source link
#Portugals #Sibs #buy #Polish #payments #firm #ITCard
