News

France's Worldline to acquire First Data Baltic operations

July 28, 2017

Worldline, a Paris-based provider of payments and transactional services, has inked an agreement to purchase First Data operations in Lithuania, Latvia and Estonia (aka First Data Baltics) in a cash deal totaling approximately 73 million euros ($85 million). 

First Data Baltics has about 200 employees and generated revenue of approximately 23 million euros ($26.8 million) in 2016. According to a press release, FDB is the leading financial processor for Baltic-region financial institutions, as well as some banks in the wider Nordic region.

The company provides a range of outsourcing services that include:

• interbank clearing and switching;
• issuance processing and associated value-added services;
• ATM management;
• merchant services for acquiring banks through acquiring processing, including e-commerce capabilities; and
• leasing and maintenance of payment terminals.

"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," Worldline CEO Gilles Grapinet said in the release. "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. …[W]e are in a unique position to deliver the next generation of payment services for the Baltic banking community, and more widely for the customers of the Nordic region."

The transaction is expected to close in the third quarter.