BUCHAREST (Romania), September 29 (SeeNews) - Portuguese payment services group SIBS acquired Bucharest-based Wirecard Romania, Romcard and Supercard Solutions & Services for an undisclosed sum, Wirecard Romania said.
Through this transaction concluded on September 28, SIBS reaches the Romanian market and thus expands its presence in Eastern Europe, where it already has significant activity in Poland, through Paytel, Wirecard Romania said in a press release on Monday.
"We are delighted to be part of SIBS, a company with a business profile similar to ours and a strong presence on the payment solutions segment on two continents," Wirecard Romania CEO Utku Ogrendil said.
"I'm sure that together our companies will continue to bring innovative payment solutions to the Romanian and European markets and be a reliable partner for both existing and new companies," Ogrendil added.
With an experience of over 25 years in payment services and solutions technology, Wirecard Romania, Romcard and Supercard have partnered-up with big names in the banking and retail market in Romania, as well as with clients from Moldova, Serbia, Hungary, Kosovo, Montenegro, North Macedonia and Lithuania.
Romcard has a leading position on the Romanian payments market, while Supercard Solutions & Services has a top market share in end-to-end loyalty solutions for merchants.
"These companies share the same DNA. SIBS is a leading payment solutions company which improves payment methods for over 300 million users in more than ten markets," SIBS Group CEO Madalena Tome said in the press release.
"As shareholders of the companies we will continue - and intensify - the focus on providing them with more convenient, secure and innovative payment solutions for the Romanian market and we will seek to increase continue cooperation with existing staff and partners, in order to strengthen the local payments market and, on this basis, to drive the current trend towards cashless payments," Tome added.
Lisbon-headquartered SIBS Group is a payment service provider with a leading position in Portugal and a footprint significant in developed countries in Europe and Africa. The group offers a wide range of digital and e-commerce, solutions for ATM and POS networks, as well as card production and personalization services.
Wirecard Romania, Romcard and Supercard are part of Wirecard Sales International Holding GmbH, which became insolvent in June after its CEO, COO, two board members, and other executives were arrested or indicted for financial fraud.
After the opening of insolvency proceedings over the estate of Wirecard Sales International Holding GmbH, the insolvency administrator began the restructuring and sale process of the international subsidiaries of Wirecard group held by Wirecard Sales International Holding GmbH.
In Romania, Wirecard has been present since 2016, when it acquired all of the shares of Romanian payment processing company Provus Group from Polish equity fund Innova Capital.