SIBS acquires Romanian subsidiaries of Wirecard Sales International
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.
