SIBS Strengthens its Presence in Poland with the Acquisition of ITCARD

SIBS, a reputable European provider of payment and  financial technology solutions, has signed a binding agreement to acquire ITCARD, a well-known  Polish payment service operator, specializing in ATM services under the Planet Cash brand,  electronic payment processing through the Planet Pay terminal network, as well as the issuance  and maintenance of VISA and Mastercard cards. The transaction is subject to the customary  regulatory approvals. 

“Joining the SIBS Group is the best direction for our company’s development, strengthening our  stability, security, and financial foundations. We will continue to provide services at the highest  level while remaining faithful to our values. I am convinced that combining the knowledge and  experience of the ITCARD team with the international scale of SIBS will lead to further dynamic  growth”, said Jarosław Chrzanowski, Chairman of the Board of ITCARD. 

ITCARD will be able to expand its offering to financial institutions and merchants with innovative  solutions in e-commerce, omnichannel payments and mobile applications. At the same time,  the larger scale of operations and SIBS’s experience in European markets will strengthen ITCARD’s  position as a reliable and secure business partner, while opening new development opportunities  for employees within the global organization. SIBS brings rich experience covering the entire  value chain from ATM and POS terminal servicing, through e-commerce solutions, to payment  card issuance and management. 

As part of the transaction, SIBS will welcome ITCARD’s approximately 470 employees into the  Group and looks forward to working with the current management team, whose continued  contributions will be instrumental in upholding the company’s long-standing tradition of success  and excellence in serving its clients. 

“SIBS’ acquisition of ITCARD represents a key step in consolidating our European presence and  in delivering long-term value for our clients and partners through technology-driven innovation.  We are committed to supporting ITCARD’s continued growth, leveraging our international  experience and broad portfolio of solutions, while working closely with existing and new clients  to deliver a broad and highly-reliable payment service portfolio. As a recognized player in the  European payments landscape, SIBS is uniquely positioned to offer tailored, integrated solutions  that meet the evolving needs of the market”, said Rui Lima, Member of the Board and Chief  International Officer of SIBS. 

Through this acquisition, SIBS significantly reinforces its commitment to the digital  transformation of the Polish economy and the Central and Eastern European (CEE) region,  increasing its presence in the POS terminal segment by over 181,000 units and taking a 

prominent role in the Polish ATM market, with a network of approximately 5,500 terminals.  Following this acquisition, SIBS will manage more than 20,000 ATMs, 827,000 POS terminals, and  around 35 million cards worldwide, processing more than 17 billion transactions annually. 

As part of its international growth strategy, SIBS has been present in the Polish market since  2008, managing ATM networks, processing transactions and providing fraud prevention services.  It strengthened its position in Poland in 2018 with the acquisition of Paytel, followed by the  integration of Kar-tel in 2023 and Romcard in Romania in 2020. Delivering value to clients and  consolidating its leadership in the CEE market is strategic for the Group, reflected in SIBS’  operational performance in Poland in recent years: since 2018, Paytel’s business volume has  nearly quintupled while expanding its local offering of innovative digital solutions, reinforcing  its presence in online payments and ATM services. 

SIBS will continue investing in strong local partnerships, the development of new services, and  technological innovation, always guided by its founding values of Trust, Integrity, Excellence,  and Innovation. This operation reinforces SIBS’ ambition to establish itself as an internationally  recognized technology operator in payment systems. 

SIBS has been advised on the transaction by Rothschild & Co and DLA Piper. Due diligence  advisers included DLA Piper (legal) and KPMG (financial, tax and tech due diligence).