Sale of Wirecard core assets to Banco Santander gets closed
The insolvency administrator of Wirecard today announced an important achievement in the insolvency proceedings concerning the assets of Wirecard AG and Wirecard Technologies GmbH. The sale of the Wirecard core assets to Banco Santander group has been completed.
Around 500 employees will become part of Santander’s Getnet platform. This way, almost all of the remaining jobs at the Aschheim site near Munich are preserved.
Let’s recall that, in November 2020, Banco Santander and insolvency administrator Dr. Michael Jaffé signed a contract with respect to the sale of the European technology platform of the insolvent payment service provider and highly specialized technological assets.
The acquired assets include payment solutions for merchants for acquiring and issuance services. The acquisition does not include Wirecard companies and Santander will not assume any legal liability relating to Wirecard AG and Wirecard Bank AG or its past actions.
Santander intends to accelerate the deployment of its merchant payments business, Getnet, in Europe and expand its merchant payments business at a pan-European level with the acquisition of Wirecard assets.
The insolvency administrator has already successfully sold several other parts of Wirecard group worldwide including Wirecard North America’s sale to Syncapay, Wirecard Brazil’s sale to PagSeguro and Wirecard Romania’s sale to SIBS.