European Fintech Nexi to Acquire BPER Merchant Payments Business

Nexi S.p.A. reveals that it has committed to a long-term strategic partnership with BPER Banca S.p.A. and Banco di Sardegna S.p.A. by transferring BPER and Banco di Sardegna’s merchant acquiring and POS management businesses to Nexi Payments S.p.A.

As noted in the update, Nexi intends to acquire full ownership in Numera Sistemi e Informatica S.p.A. from Banco di Sardegna, which is currently subject to the prior carve-out from Numera of business activities not related to POS management and support (overall the ‘Transaction’).

The consideration for the Transaction is equal to €318M, along with a potential deferred component up to €66M which is presently subject to the achievement of certain economic and qualitative targets.

Last year, the merchant acquiring business had reportedly generated a total value of transactions of around €13B via a network of over 110,000 merchants and about 150,000 POS.

The Transaction aims to strengthen the relationship between Nexi and its long-term partner BPER, which will now be able to adopt the tech solutions and the related services developed by Nexi while still maintaining an economic exposure to the business for the duration of the agreement.

The payment system activities of Numera will now be improved, recognizing the strategic role that the firm represents as center of excellence in the region in which it does business.

The closing of the Transaction is currently expected in the second half of 2022 and is now subject to the necessary authorizations from the competent Authorities.

On this transaction, Nexi was assisted by Mediobanca and Rothschild & Co as financial advisors, from Bonelli Erede as lead counsel for the legal aspects of the transaction, from Legance, and from KPMG for financial and fiscal due diligence.

Nexi is Europe’s PayTech company “operating in high-growth, attractive European markets and technologically advanced countries.”

Listed on Euronext Milan, Nexi claims it “has the scale, geographic reach and abilities to drive the transition to a cashless Europe.”

With its portfolio of innovative products, e-commerce expertise and industry-specific solutions, Nexi “provides flexible support for the digital economy and the entire payment ecosystem globally, across a broad range of different payment channels and methods.”

Nexi’s technological platform and the professional skills in the sector “enable the company to operate at its best in three market segments: Merchant Services & Solutions, Cards & Digital Payments and Digital Banking & Corporate Solutions.” Nexi constantly “invests in technology and innovation, focusing on two fundamental principles: meeting, together with its partner banks, customer needs and creating new business opportunities for them.”

Nexi is “committed to supporting people and businesses of all sizes, transforming the way people pay and businesses accept payments.”

It offers companies “the most innovative and reliable solutions to better serve their customers and expand.”

By simplifying payments and enabling people and businesses to build closer relationships and grow together, Nexi “promotes progress to benefit everyone.”

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