Portugese firm SIBS takes over PayTel in 34 mln pln deal

As of 20 June 2018, SIBS formalized the purchase of PayTel, a Polish company specialized in card acceptance services, reinforcing its presence in an important market for its international growth strategy. The operation will enable SIBS to accelerate its activity in Poland, through a company with great potential for growth.With this acquisition, SIBS pursues its strategy of expanding its payment services by positioning itself with an even wider offer in Europe, flanking other European-wide operators. SIBS has been present in Poland since 2008, providing ATM network management services, terminal approval, transaction processing, switching, prevention and fraud detection, now expanding to acquiring services.

This transaction will take place between 2018 and 2020, with the first phase accounting for 55% of the company’s capital and representing an investment of PLN 34 million (about 8 million euros) by SIBS. PayTel has shown growth levels around 35% per year, substantially above the increase of the global market, which is 4 times greater than Portugal. These data are particularly relevant as Poland, following the trends of several European countries, is increasingly betting on a cashless society, with electronic payments growing, driven by legislative initiatives.

“The Polish market is very relevant to SIBS and marked its expansion and expansion of the offer in European markets. Growth prospects for the payment market in Poland are quite consistent and the purchase of PayTel is precisely a bet on this. We speak of a company with relevant commercial footprint at a national level, which, together with SIBS know-how and portfolio represents an opportunity for strategic development and reinforces SIBS position as a relevant payments player in the European market”, says Madalena Cascais Tomé, CEO of SIBS.

Founded in 2003, PayTel, based in Warsaw, is an acquiring company that currently employs about 100 employees. It provides integrated payment acceptance, including processing services, TPA provision, network management, and customer service centres.

%d bloggers like this: