SIA Acquires 49% of SiNSYS from Atos Worldline
SIA has acquired the remaining 49% of the share capital of SiNSYS, the Belgian company specialising in the processing of payment transactions by international debit and credit cards, from Atos Worldline.
With this operation, SIA has become the sole shareholder of SiNSYS (it previously owned 51% of the share capital), further consolidating its strategy of growth in the eastern and western European markets, included in the strategic plan for the three-year period 2011-2013, through a significant focus on processing services for payment cards.
SiNSYS’ headquarters are in Brussels with branches in Milan and Utrecht, and it has around 150 employees. Established in September 2003 as a joint venture in the sector of technology solutions and services for the management of international cards and merchants, SiNSYS is one of the major operators in the industry. The company has a portfolio of 30 million cards, 700,000 merchants, over 1 billion transactions and operates in 12 European countries: Austria, Belgium, the Czech Republic, Germany, Great Britain, Holland, Hungary, Italy, Poland, Russia, Slovakia and Ukraine.
At the same time as the agreement that sees SIA owning 100% of SiNSYS, SIA and Atos Worldline have also finalised a long-term contract for the provision through SiNSYS of processing and technology services relating to cards.
This operation completes the reorganisation of the SIA Group started in 2010, in line with the strategic plan providing for SIA to hold 100% of the six subsidiary companies, which are: the Italian companies Pi4Pay (collection and payment services), RA Computer (solutions and applications for banks, businesses and public administrations), and TSP (systems and services for companies and public administrations); SiNSYS (card processing, issuing and acquiring) in Belgium; and Perago (infrastructures for central banks) in South Africa and SIA Central Europe in Hungary.