Reached agreement with EVO Payments
Deutsche Bank and EVO Payments International have reached an agreement on the sale of Deutsche Card Services, a wholly owned subsidiary of Deutsche Bank (view press release). EVO Payments will acquire 100% of Deutsche Card Services, subject to regulatory approvals. Deutsche Card Services operates in 39 European markets and provides merchant acquiring services to multi-national clients of Deutsche Bank. Its Global Transaction Banking division will also enter into a long-term strategic agreement with EVO Payments International. This will cover joint marketing of card acquiring and related products.
James G. Kelly, CEO of EVP Payments International, said: “We are very excited to be expanding our business and the existing US sponsorship and referral relationship with Deutsche Bank into Germany and across Europe. We regard Deutsche Card Services as an excellent platform to facilitate this expansion. Clearly, we have been very impressed by the Deutsche Card Services team and will leverage the Cologne site as our platform for our pan-European growth strategy.”
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