Italian payment processor SIA has become the
sole shareholder of Belgian payment card services provider Sinsys,
acquiring from Atos Worldline the 49% it didn’t already
The move is part of SIA’s expansion strategy
into Western and Eastern European markets, with the aim of
consolidating the business in the area of processing services for
payment cards by 2013, the company said.
Brussels-headquartered Sinsys has 150 staff
and in fiscal 2011 it posted a net profit of EUR2.6m. With branches
in Milan and Utrecht, its processing, issuing and acquiring
platforms manage transactions on behalf of financial institutions
based in 12 European countries.
Sinsys has a portfolio of 30m cards, 700,000
merchants and over 1bn transactions annually.
Following the acquisition, SIA now holds 100%
of its six subsidiary companies, completing the reorganisation of
the group started in 2010.
SIA and Atos Worldline have also finalised a
long-term contract for the provision through Sinsys of cards’
processing and technology services.