In brief: Worldline acquires the merchant acquiring activities of Banco Desio in Italy
Just one month after the acquisition of Open Payment Platform, the French group continues its offensive strategy and announces its intention to acquire the merchant acquiring activities of Banco Desio in Italy for approximately 100 million euros.
The transaction is expected to bring Worldline additional annual revenues of around €15 million in the first year and the acquired businesses are expected to show double-digit organic growth over the next few years, with an expected gross operating profit (GOI) margin of over 30%, according to the group.
The transaction is expected to be completed in the first quarter of 2023 after the usual regulatory approvals are obtained, Worldline said.
This transaction is part of the group's development strategy in Southern Europe and particularly in Italy. It follows the acquisition of Axepta Italy in early 2022 and the creation of the Worldline MS Italy joint venture.