European payments processor Worldline is to make its second acquisition in as many weeks, taking over 100% of the share capital of First Data Baltics for EUR73 million in cash.
The move comes just weeks after Wordline acquired online payments outfit Digital River World Payments, providing it with its first operational positions in Sweden, the US and Brazil.
First Data Baltics propels Wordline into the Lituanian, Latvian and Estonian markets.
Having generated revenue of €23 million in 2016, FDB currently employs 200 staff.
Gilles Grapinet, Worldline GM comments: “The acquisition of First Data Baltics is a significant development for our Group to accelerate the execution of our pan-European consolidation strategy in financial processing services. In one transaction, we gain a leading position in the fast-developing countries of Latvia, Lithuania and Estonia, we reinforce our group capabilities in the north of Europe and will establish new relationships with numerous prestigious Baltic and Nordic banks.”
The transaction is expected to close during the third quarter of 2017.