20 Apr 2016

German company Wirecard acquired Provus Group

Provus Group (Provus Service Provider, Romcard and Supercard Solutions & Services) was acquired by Wirecard AG,  one of the biggest players globally on the electronic payments market.

Wirecard was funded in 1999 in Bavaria, near Munchen. The organization offers global financial services and related cutting-edge technologies. The company’s solutions cover retail payment processing for all sales channels, whether online, mobile or point-of-sale (POS).

As per 2014, the company had 1 750 employees, an EBITDA profit of 173 million EUR in 2014 and a 601 million EUR revenue.

Since its foundation Wirecard has proved to be one of the leading international providers of outsourcing and white label solutions for electronic payment transactions.

Roland Toch, MD Wirecard CEE: “This acquisition will allow Wirecard to systematically step up its expansion into Eastern Europe. The business model compliments our global payment gateway as well as our European acquiring and issuing license.”

Following the transaction, Wirecard estimates an EBITDA operational profit of 4 million EUR in 2016 and approximate costs of 500 000 EUR for integrating the activities.

The current management team of Provus Group will remain in place.