International IT services company Atos Origin has completed its acquisition of Banksys and Bank Card Company from Fortis, Dexia, KBC, ING and other Belgian banks.
The acquisition, which follows the European Competition Authority’s approval of the deal in September 2006, has been completed through Atos Origin’s subsidiary Atos Worldline, a company dedicated to electronic payment services.
According to Atos Origin, the acquisition will create an entity with strong expertise in the European payment market, and represents a critical milestone in accelerating the consolidation of a single European payments area (Sepa).
Atos Origin has said that the deal will create a European leader in payment services, with combined pro forma 2006 revenues of E630 million and multi-year contracts that guarantee revenue with the major banks in Belgium, as well as a combined workforce of 4,200 staff across western Europe.
The company also stated that the combined activities, which will be part of and trade as Atos Worldline, will deliver substantial development synergies and will be able to respond more effectively to the challenges and opportunities presented by Sepa.
The selling banks will remain customers of the new group for the processing of their credit and debit transactions and for related services.