Denmark's PBS has bought the payments business of Swedish IT firm Stralfors for an undisclosed sum as it looks to expand its presence in the Nordic region.
The firms have signed an agreement which will see PBS take over Strålfors Payments - which handles between 110 and 120 million transactions a year - on 30 September. The deal will see around 60 staff move to PBS.
Under the deal PBS will also take over Swedish Post ePayment Services, which handles Internet payments in the Swedish market. The Danish firm also takes on customer agreements with the merchants and banks that previously had deals with Strålfors on the handling of card payments.
Commenting on the acquisition, Flemming Jensen, CEO, PBS, says: "We want to be a strong international partner in the whole Nordic market, and Strålfors Payments fits in well in this context. We now have access to a substantial volume of business in the field of payment cards, which will strengthen our overall position in Sweden."
Per Samuelson, president and CEO, Strålfors, adds: "Strålfors' payment solutions have so far only been available in Sweden, while customers are increasingly demanding Nordic and European solutions. PBS has a Nordic strategy and is a competent player that can support the entire Posten Group with payment solutions."
PBS also has a strategic alliance with Strålfors' owner Svenska Posten covering business development in areas such as distance selling, payments and logistics.