Italian payment firm Nexi has made a $397m (€350m) bid to acquire the payment unit of banking group BPER Banca, Bloomberg reported citing people familiar with the development.

Nexi started exclusive talks with the bank earlier this month to purchase its merchant acquiring business.  

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The companies are expected to sign a deal by the end of next month, according to sources whose identities were not disclosed as the matter is confidential.

BPER and Nexi did not comment on the development.

BPER’s unit specialises in the management of electronic payments. The potential deal would help Nexi further bolster its presence in Italy’s payment space.

Nexi has made a number of acquisitions after its current chief executive Paolo Bertoluzzo took over the firm in 2016.

These include the purchase of merchant payment businesses of several Italian banks, including the payments divisions of Banca Monte dei Paschi di Siena, Banca Carige and Intesa Sanpaolo.

The firm’s strategy involves the acquisition of payment assets from the banking partners, while maintaining partnerships and contracts with the banks.

In May last year, it was reported that Nexi was pursuing talks to scoop up stake in Greece-based Alpha Bank’s payment business.

Last year, the firm agreed to buy SIA in an all-share deal valued at $5.3bn (€4.56bn) and Nordic rival Nets for €7.8bn.

Earlier this month, a report by Bloomberg said that Nexi is weighing strategic options for its German buy-now-pay-later (BNPL) unit Ratepay, including a sale of the business. The BNPL firm was acquired by the payment provider as part of its acquisition of Nets.