Deutsche Bank will sell 100% of its Cologne-based Deutsche Card Services to US merchant acquirer EVO Payments International.
Deutsche Card Services operates in 39 European markets and provides merchant acquiring services to clients of Deutsche Bank including online, point-of-sale and ATM.
Go deeper with GlobalData
As part of the deal, Deutsche Bank’s global transaction Banking division and EVO will work together on joint marketing projects.
Werner Steinmüller, head of global transaction banking said: "Deutsche Bank has an excellent existing working relationship with EVO Payments in the US. This is an opportunity to expand that relationship and reap the rewards of partnering with an experienced and high quality provider."
James G Kelly, CEO of EVO said: "We have been very impressed by the Deutsche Card Services team and will leverage the Cologne site as our platform for our pan-European growth strategy."
The transaction is subject to regulatory approvals. Financial terms have not been disclosed.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
