Worldline (Euronext: WLN), a number one funds firm, introduced on Thursday that it has accomplished the acquisition of Cardlink SA, a Greek community service supplier.
This acquisition got here as part of Worldline’s broader European consolidation technique. However, it didn’t come as a shock as the 2 firms signed an settlement of acquisition final Might.
Worldline has bought a 92.5 % stake in Cardlink.
A Native Funds Chief
Based in 2004, Cardlink is a widely known title within the Greek market. The corporate has a fleet of above 240,000 Level of Sale fleet, masking 46 % of the native market, and manages round 500 million transactions a yr, which is the market share of 53 % service provider gross sales quantity. Additionally it is serving greater than 10,000 on-line retailers.
Moreover, Cardlink maintained a wonderful relationship with Greek banks, together with Alpha Financial institution and Eurobank, which may be thought of the spine of such cost infrastructure enterprise.
With the completion of the acquisition, Worldline has entered the excessive potential Greek market that’s shortly shifting from money to card and digital cost adoption.
The brand new father or mother firm of Cardlink is now contemplating creating its partnerships with native buying banks and permitting entry to Worldline’s providers portfolio to different current Greek prospects.
Furthermore, the official announcement detailed that Cardlink CEO George Drimiotis will stay CEO and a shareholder of the corporate. Moreover, he will likely be chargeable for overseeing the event of all Worldline’s actions in Greece.
“The acquisition of Cardlink is a big improvement in our Group consolidation technique in Europe, extending our service provider providers actions in direction of the South of Europe,” the Worldline Chairman and CEO, Gilles Grapinet mentioned earlier. “This transaction affords enticing improvement alternatives for Worldline within the coming years and a robust footprint to additional increase Cardlink’s presence in Greece.”