SIA buys out Sinsys JV partner Atos Worldline

SIA buys out Sinsys JV partner Atos Worldline

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.

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