European payments and transactional service provider Worldline has agreed to acquire First Data Baltics, the leading payment processor in the region, for $85 million (73 million euros). The deal is slated to be finalized in the third quarter of this year.
Worldline’s acquisition of the 200-person First Data Baltics branch helps the France-based company break into the Lithuanian, Latvian, and Estonian markets. Gilles Grapinet, Worldline CEO said that the deal is a “significant development” that will “accelerate the execution of our pan-European consolidation strategy in financial processing services.” Grapinet added, “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.”
This marks the company’s second acquisition this year, after it acquired Digital River World Payments earlier this month. Worldline anticipates these acquisitions are the first of many for the company. Grapinet said that the company sees, “an unprecedented level of M&A opportunities in the payment space, notably in Europe.”
Founded in 1973, Worldline showcased a connected piggy bank. The IoT device pairs with a companion mobile app on a child’s phone to serve as a physical savings account for the kid. The app helps the child recognize and count their coins, while the parent-facing side of the app enables parents to deposit money into the child’s online account using NFC.
Worldline went public in 2014 and Earlier this week the company and Total partnered with InTouch to deploy Guichet Unique, a digital solution for retail networks. Worldline has ranked as a Market Leader in the Ovum Decision Matrix for its white label mobile wallet solution and was recently awarded Best Chile 2017 for its commitment to the well-being of its collaborators.