Worldline announced the completion of the agreement with First Data Corporation
announced on July 25th, 2017, for the acquisition of 100% of the share capital of First Data’s fully
owned subsidiaries in Lithuania, Latvia, Estonia (together “First Data Baltics” or “FDB”) for c.€73 million, financed by available cash.
Having generated revenue of c. € 23 million in 2016 and presenting a strong financial profile with OMDA margin materially above Worldline’s OMDA, FDB currently employs c.200 employees and is the leading financial processor in the Baltics, providing to the main Baltic banking groups and also to some banks in the wider Nordic region, a large range of outsourcing services.
Through this acquisition, Worldline gains a unique leading position in the fast-growing Baltic countries and significant development perspectives in the Baltics (n°1 in Latvia & Lithuania, n°2 in Estonia) thanks to structural electronic payments growth. Numerous synergy levers with Worldline portfolio have been identified allowing the acceleration of both revenue and profitability.
FDB will be consolidated in the Financial Services division of Worldline from October 1st, 2017.