Worldline, (Euronext: WLN) and Equens said they have signed a memorandum of understanding (MoU) on a strategic transaction aiming to create the new pan-European leader in payment services.
Worldline and Equens said they consider this step as a major milestone in the consolidation of the European payments market. The strategic aim of the new entity is to be one of the leading and most innovative payment service providers for financial institutions and corporates in Europe.
Worldline has agreed with Equens to acquire 100 percent of its commercial acquiring subsidiary PaySquare. The PaySquare business will be directly integrated in Worldline Merchant Services & Terminals Global Business Line.
The agreement aims at the creation of a new entity branded Equens Worldline company, owned by Worldline at 63.6 percent:
Worldline is a European leader in the payments and transactional services industry. Worldline delivers new-generation services, enabling its customers to offer smooth and innovative solutions to the end consumer.
Equens SE is one of the largest payment providers in Europe, processing 9.7 billion payments and 5 billion POS and ATM transactions each year.