As communicated in May 2018, SIX, the parent company of SIX Payment Services, announced today the completion of the acquisition of SIX Payment Services by Worldline.
As part of this transaction SIX now holds a 27% equity stake in Worldline and will take two seats in the Worldline Board of Directors. As a result of the acquisition, the former offices of SIX Payment Services are now offices of Worldline but will continue to operate under the “SIX Payment Services” trade name until further notice.
In May 2018 SIX announced a strategic partnership with Worldline in the cards business (merchant acceptance & acquiring and international card processing). From a strategic point of view SIX Payment Services and Worldline complement each other very well in terms of geography and product offering. The combined company is now the leading and largest European provider in the payments industry.
The total consideration consists of 49.1 million newly issued Worldline shares (resulting in a 27% stake) and a cash consideration of CHF 338 million (€ 283 million), subject to customary net debt/cash and working capital adjustments.
Beyond SIX’ ownership stake in Worldline, there will be strong ties between SIX and Worldline, for instance through a long-term processing partnership for Swiss debit and ATM transactions, an IT partnership and a joint-facility in west Zurich.
The number of Worldline Board members rises from 10 to 12 with the appointment of two SIX representatives:
Dr Romeo Lacher, Chairman of the Board of SIX
Giulia Fitzpatrick, Financial Services Expert
Furthermore, Daniel Schmucki, CFO SIX, will be appointed as Censor of the BoD of Worldline