13 October 2020
Within the scope of the sales processes for the international units of Wirecard Sales International Holding GmbH (WDSI), SIBS, one of the leading European payment service providers, has taken over the former Wirecard Romania including the subsidiaries Romcard and Supercard Solutions & Services. The international commercial law firm Taylor Wessing advised SIBS in the auction process of the insolvency administrator in the acquisition and supported the leading Romanian law firm Stratulat Albulescu in the transaction.
With ex-Wirecard Romania and its independently operating subsidiaries, SIBS has acquired a dominant player in its home country Romania, which is also present in numerous other Central and Eastern European countries. With this transaction, the Lisbon-based company further expands its international buy-and-build strategy to develop and offer a comprehensive range of services and products, in particular for digital and e-commerce solutions, on a European scale. It was only in 2018 that SIBS in Poland acquired Paytel, one of the most dynamic payment terminal operators in the market. With the acquisition of the Romanian Wirecard units, the payment company now serves the two largest markets in Central and Eastern Europe from leading positions.
Founded in 1983, SIBS specialises in payment services, providing solutions for complex interbank payment environments with over 300 million users in more than ten markets in Europe and Africa. The specialist supports several central banks and public as well as private banking initiatives in the introduction and further development of card-based payment systems for terminal network and other payment related solutions.
SIBS legal advisers
Stratulat Albulescu: Lead partners Silviu Stratulat (Managing Partner) and Octav Stan (Counsel), both Corporate/M&A, both Bucharest
Taylor Wessing Germany: Martin Gerner (Partner), Dr Klaus Grossmann (Partner), Dr Marcel Leines (Associate), all Corporate/M&A, all Düsseldorf, Dr Martin Heidrich (Partner, Hamburg), Ingo Gerdes (Partner, Düsseldorf), both Restructuring