EVO Payments International, LLC, a leading payments service provider, announced today the completion of its acquisition of Deutsche Card Services, formerly a wholly owned subsidiary of Deutsche Bank.
With the consummation of the transaction, Deutsche Card Services will now conduct business under the name EVO Payments International GmbH.
The acquisition provides a platform that allows EVO to operate as a payments institution and a principal member of VISA and MasterCard in 39 European markets. As part of the acquisition, Deutsche Bank's Global Transaction Banking division ("GTB") and EVO also entered into a long-term strategic partnership that includes an exclusive pan-European joint marketing arrangement covering card acquiring and related products for GTB customers.
"As we continue to expand our global scale and reach, the acquisition of Deutsche Card Services and our partnership with GTB provides significant additional product and market coverage that is crucial in meeting the expanding needs of our customers," said James G. Kelly , CEO of EVO. "We are excited about the potential this acquisition and our partnership with GTB bring to EVO, and, most importantly, our customers and partners."
Jens Mahlke , who will manage EVO's European operations, said, "I am excited to join the EVO team to help lead the company's European expansion efforts. I look forward to working with the EVO management team and my colleagues at Deutsche Card Services to build further EVO Payments International's presence as a market leader in payment processing."