26 Jan 2011

Innova Capital took over the card processors Provus Services Provider and RomCard

Innova Capital, a major private equity fund in Central Europe, has acquired a 96% stake in Provus Services Provider and its 100% owned subsidiary, RomCard, from Turkven Private Equity and a consortium of Turkish investors.

It is the third local investment of Innova Capital. The two companies taken are the most important providers of card issuance and personalization, operations and transaction processing for ATM and POS terminals, switching services and e-commerce. ” Provus and Romcard are major players in providing outsourced services and e-commerce for banks and companies,” said Izzet Cem Yenigul, minority shareholder and member of the board of both companies. “Innova decision was based on confidence in the local processing market opportunities as well as the high quality of the platforms, management teams and highly valuable customer portfolio of the two comapanii” says Krzysztof Kulig, Innova Capital partner.

More information here