Worldline, a pan European card acquirer and e-payment services firm, has completed the acquisition of 100% stake in First Data Baltics, a fully owned subsidiary of First Data in Lithuania, Latvia, Estonia.
The €73m deal, first announced in July this year, will allow Worldline to gain a leading position in the Baltic countries.
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First Data Baltics reported revenue of €23m in 2016 and currently employs nearly 200 people. It provides outsourcing services to main Baltic banking groups and also to some banks in the wider Nordic region.
Worldline said it has identified numerous synergy levers with its portfolio that will allow it to accelerate both revenue and profitability.
Worldline said it will merge First Data Baltics into its financial services division from 1 October 2017.
