SIA buys out Sinsys JV partner Atos Worldline
07 September 2012 | 6291 views | 0
Italy's SIA has struck a deal to buy Atos Worldline's 49% stake in Sinsys, giving it full ownership of the Belgian card payments processing company. Financial terms were not disclosed.
Established as a joint venture in 2003, Sinsys employs around 150 people, located at its headquarters in Brussels and offices in Milan and Utrecht.
Operating in 12 European countries, the firm has a portfolio of 30 million cards, 700,000 merchants, over one billion transactions, making a net profit of EUR2.6 million last year.
SIA and Atos have also struck a long-term contract for the provision, through Sinsys, of card-related processing and technology services.