SIA acquires UniCredit’s Italy, Germany and Austria eMoney businesses
The €500m deal sees SIA take over the management of around 13.5m payment cards, 206,000 POS terminals and 12,000 ATMs from Unicredit in the three countries.
The €500m deal sees SIA take over the management of around 13.5m payment cards, 206,000 POS terminals and 12,000 ATMs from Unicredit in the three countries.
Italian IT group SIA has signed an agreement with UniCredit Business Integrated Solutions (UBIS), a company in the UniCredit Group, which will see SIA take over UBIS’s processing activities of around 13.5m payment cards and the management of 206,000 point of sale (POS) terminals and 12,000 automated teller machines (ATMs) in Italy, Germany and Austria. UBIS also signed with SIA a 10-year outsourcing contract for the supply of processing services for transactions made using debit, credit and prepaid cards, and for the management of POS and ATM terminals.
SIA said that the €500m deal represents 20% growth in its revenues and, in the e-money sector, an increase in card payment transactions from around 4bn to over 5bn. “This acquisition allows SIA to strengthen further its competitive positioning at domestic and international level, especially in Germany and Austria – two of the main target markets in the 2016-2018 Business Plan – to increase the volumes of the payments managed on our technology platforms and thus achieve greater economies of scale,” commented Massimo Arrighetti, SIA chief executive officer (CEO).