| Atos Origin to acquire Banksys and BCC |
| |
|
|
| | (Dexia, Fortis, ING,
KBC), announced the
acquisition agreement.
This new partnership
will allow Banksys and
BCC to play a key role
in the current
international market and
it will allow Atos
Origin to become a
European leader in
payment services.
The agreement, for an
undisclosed amount, was
signed on Wednesday 19
July 2006 and the
acquisition is expected
to be finalised by the
end of 2006, subject to
approval by the European | |
|
| | Competition Authorities.
The transaction is in
line with Atos's
strategy of making
mid-sized acquisitions
to speed up its growth
in payment systems, IT
services and the
healthcare sector.
Banksys and BCC have
a combined 2005 revenue
of €309m from a
consortium of banks.
Atos will make the
acquisition through its
Atos Worldline
subsidiary, which has
annual sales of €400m
and staff of 2,600.
Banksys and BCC employ a | |
|
| | total of 1,100 people.
Within the context of
SEPA, the process of
European
standardisation, the
four major shareholders
are seeking to leverage
Banksys and BCC’s
positioning in the new
pan-European market for
transactions processing,
commercial affiliation
for electronic payments
and payment terminals.
Atos Worldline’s and
Banksys’ / BCC’s
operational fit is
excellent, both from a
business and
geographical | |
|
| | perspective. The new
entity will be part of
Atos Worldline. The
combination will deliver
substantial development
synergies and will be
able to respond 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
such as CardStop.
| |
|
| | Atos Origin is in a bid
to create Europe's
leading payment services
company with global
revenue of around €700m
($874.7m) by buying
Banksys and Bank Card
Company (BCC).
Atos Origin, Banksys
and Bank Card Company
(BCC), as well as the
four major shareholders
of Banksys and BCC | |
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