DLA Piper has advised leading payment solutions provider, SIBS, on the acquisition of a majority stake in ITCARD, one of Poland’s largest payment services providers. The acquisition will see SIBS manage over 20,000 ATMs and 827,000 POS terminals, processing more than 17 billion transactions annually on a global scale.
SIBS is a reputable European provider of payment and financial technology solutions, operating in more than 25 markets. The transaction, which remains subject to obtaining the required regulatory approvals, represents an important step in SIBS’ growth strategy in Central and Eastern Europe.
A multidisciplinary team from DLA Piper’s Warsaw office worked on the transaction led by Corporate partner Jakub Domalik-Plakwicz. The team also comprised of counsels Anna Chrabota-Bajson, Michał Orzechowski, Izabela Gębal, senior associates Arkadiusz Karwala, Michał Bałdowski, and junior associates Zofia Waszczykowska and Konrad Nazarowski.
Jakub Domalik-Plakwicz, partner, commented: “This is a transaction of great importance for the payment services sector in Poland, which plays a key role in driving the digital transformation of the economy. This transaction bolsters SIBS’ position and contributes to the development of innovative payment solutions in Poland and across the region.”