First Data to acquire Austrian Payment Systems Services

First Data to acquire Austrian Payment Systems Services

US-based First Data has signed an agreement to acquire Austrian Payment Systems Services (APSS), a bank-backed provider of card-based payment processing services.

Financial terms of the deal were not disclosed, but according to Austrian press reports First Data is paying around EUR120m for the unit.

Formed in 1993, APSS provides banks in Austria with debit and credit card issuing and acquiring, as well as network operations and terminals and ATM processing.

Under the terms of the agreement, APSS's headquarters will remain in Austria and the company will continue to manage its relationships with Austrian banks locally.

Commenting on the deal, David Yates, president, Emea, First Data says: "APSS is an excellent complement to our current European business and fits perfectly within our strategy of expansion across Central and Eastern Europe."

Last month the US vendor completed its acquisition of EuroProcessing International (EPI), a provider of electronic payment processing services to banks in the CEE.

The APSS acquisition is expected to complete in the fourth quarter.

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