SIBS acquires Romanian subsidiaries of Wirecard Sales International

Maria Nikolova

The transaction was closed on September 28, 2020.

After the sale of Wirecard Brazil and the English subsidiary of Wirecard AG, Wirecard Card Solutions Ltd, further progress has been made in the processes for the sale of the international Wirecard group entities.

Insolvency administrator appointed by the Munich Insolvency Court for WDSI and Wirecard AG, Rechtsanwalt Dr. Michael Jaffé of the law firm JAFFÉ Rechtsanwälte Insolvenzverwalter, sold all shares in Wirecard Romania SA to European payment service provider SIBS.

Wirecard Romania has more than 25 years of experience in offering payment services and necessary technology solutions for all major banks in Romania, also serving banks in Moldavia. The subsidiary Romcard has a significant position within the Romanian payments market. Supercard Solutions & Services has a leading market share in the merchant value add services market including loyalty systems and end to end marketing capabilities. The companies historically operated standalone from the parent group. They continue operations without disruption and with a strong operational standing.

The transaction was closed today. SIBS continues to run the operation without any interruption. SIBS is a full fledge payment service provider, with a leading position in Portugal and a significant footprint in high growth countries in Europe and Africa, and a broad spectrum of solutions from digital and e-commerce to ATM and POS network and card product and personalisation. Via this acquisition SIBS expands into the Romanian market, further expanding its scale and relevance in Eastern Europe.

“With the sale of Wirecard Romania we have accomplished another success in the process of selling the Wirecard entities in the best interest of the creditors. There is substantial interest for the other international subsidiaries. Especially, for the PT Prima Vista Solusi, PT Wirecard Technologies Indonesia (both Jakarta, Indonesia) and Wirecard (Vietnam) Company Limited are in advanced auction processes”, insolvency administrator Dr. jur. Michael Jaffé stated.

Read this next

Fintech, Uncategorized

Fabrick enters Germany via finAPI acquisition

“It allows us to enter the DACH Region, an area of strategic importance in allowing us to scale up our operations and seize the growing opportunities offered by the sector in which we operate. This operation is also a further step in expanding our offering, which now covers the entire value chain of Open Finance services.”

Industry News

Limitless Opportunities Await at iFX EXPO International 2024!

The countdown is on until iFX EXPO International 2024 officially gets underway. Explore the wealth of networking opportunities and business potential on offer in Limassol, Cyprus.

Market News

Elon Musk Drives NVDA Price to a New High

On Tuesday, Nvidia’s stock price hit an all-time high, exceeding $1,130, marking a nearly 7% rise from Monday’s closing price.

Retail FX

Cerus Markets launches MT5 with exclusive Crypto vs TradFi offering

“The introduction of MT5 is a significant milestone for Cerus Markets and our valued clients. We are constantly seeking ways to enrich our platform and empower our traders with more advanced tools and opportunities. MT5 aligns perfectly with our mission to bridge the gap between cryptocurrency and traditional financial markets.”

Fintech

Ouinex taps Netdania to build institutional-grade crypto trading platform

Ouinex intends to always bring the best of TradFi electronic trading infrastructure to Web3 including innovative universal cross-margining capabilities so that users can trade TradeFi instruments by using their crypto holdings as margin.

Retail FX

BDSwiss Elevates Traders’ Experience with Advanced Trading Tools

In the fast-paced world of financial markets, having access to advanced trading tools and educational resources is crucial for traders aiming to stay ahead of the curve.

Market News

Gold & Silver rally, made in China

Gold prices correlate with the US bond market, and the US Dollar influences the Gold/Silver ratio. Chinese market premiums for Gold and Silver suggest continued uptrends. Inflation-adjusted peaks indicate current prices are not overly expensive, implying potential for further gains.

Market News

Japan’s Monetary Policy and FX Intervention: Key Takeaways from the G20 Meeting

At the G20, BoJ President Kanda and Finance Minister Suzuki emphasized stable exchange rates and cautious FX intervention, signaling imminent action. Softer US inflation data and potential BoJ rate hikes are impacting USD/JPY

blockdag

Top 3 Cryptos of 2024: BlockDAG’s $1 Prediction, Immutable’s Remarkable Price Increase, and Solana’s Promising Future

Explore pivotal changes in the cryptocurrency market through our analysis of Solana, Immutable, and BlockDAG. Explore how BlockDAG raised $34.7M in its presale with advanced technologies.

<