First Data Corporation is to acquire e-payments network operator TeleCash Kommunikations-Service from T-Systems International, a division of Deutsche Telekom, for an undiclosed amount.
TeleCash operates a network of 166,000 POS terminals in Germany, enabling merchants to accept debit and credit card payments.
The Stuttgart-based company has 340 employees and also has offices in Frankfurt am Main, Berlin, Hamburg, Dusseldorf and Munich.
Pam Patsley, president, First Data International, says the acquisition represents a continuing investment in the company's business and resource base in Germany.
T-Systems International says the deal is part of its plan to concentrate solely on the systems solutions business.