MILAN--(BUSINESS WIRE)--Unicredit Business Integrated Solutions (UBIS), a company in the Unicredit Group, and SIA today signed an agreement for the sale to the latter – for the sum of €500 million – of the processing activities of around 13.5 million payment cards and the management of 206,000 POS terminals and 12,000 ATMs in Italy, Germany and Austria.
UBIS also signed with SIA a ten-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.
For SIA this acquisition represents the continuation along the path of growth: thanks to this operation, revenues increase by over 20% (2015 pro-forma figures).
“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, CEO of SIA.
Thanks to this agreement, in the e-money sector, SIA’s pro-forma 2015 figures indicate an increase in card payment transactions from around 4 billion to over 5 billion.
SIA called upon the assistance of Studio Chiomenti as legal consultant, Studio Tremonti for the fiscal aspects and Ernst & Young as financial advisor.