NEXI Nexi S.p.A.

By Pierre Bertrand

Nexi SpA has entered a strategic partnership with BPER Banca SpA and Banco di Sardegna SpA with an overall transaction value of 318 million euros ($341.4 million), the Italian payments company said Wednesday.

As part of the deal, the merchant-acquiring and point-of-sale management businesses of BPER and Banco di Sardegna will be transferred to Nexi, it said. In addition, Nexi said it will take ownership of Numera Sistemi e Informatica SpA from Banco di Sardegna, following a carve-out of certain operations unrelated to point-of-sale management and support.

The deal also includes a potential additional EUR66 million that depends on whether specific economic and qualitative targets are met, Nexi said.

Nexi said it expects the transaction to close in the second half of the year.

In 2021, the merchant-acquiring business generated EUR13 billion in transactions through more than 110,000 merchants and nearly 150,000 points of sale, Nexi said.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

June 01, 2022 04:07 ET (08:07 GMT)

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