Worldline announces €100M acquisition of merchant acquiring activities of Banco Desio
Payment services provider Worldline SA (EPA:WLN) announces the signing of a binding agreement for the acquisition of Banco Desio’s merchant acquiring activities and the planned set-up of a commercial partnership aiming to leverage Banco Desio’s banking network in order to distribute Worldline’s payment products and services to merchant customers of the bank in Italy.
Worldline will acquire 100% of Banco Desio’s merchant acquiring activities through the Worldline MS Italy joint venture for about €100 million.
Banco Desio Group is an important Italian banking group with a strong local approach delivered through a network of more than 230 branches. The banking group was looking for a partner to acquire, operate and develop its merchant acquiring portfolio which delivers payment solutions to about 15,000 merchants generating c. 40 million transactions per year, representing approximately €2.0 billion of MSV. It also manages the marketing and distribution of more than 19 thousand POS to the merchants within the bank’s network.
As part of the transaction, Worldline will enter a long-term commercial partnership with Banco Desio aiming to leverage its strong banking network as a key commercial channel in order to distribute Worldline’s best-in-class payment product and services to merchants.
Following the acquisition of Axepta Italy in early 2022 and the set-up of the Worldline MS Italy joint venture, this transaction is fully in line with Worldline’s strategy to reinforce its presence in Italy, a highly attractive and strategic market for Worldline.
The deal is expected to close in Q1 2023 after the usual regulatory approvals.