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As we head into the fourth quarter, several payment firms are continuing to push deals to better position themselves for year’s end and entering 2021. This week proved to have a lot of movement internationally, including Nexi’s announcement to acquire SIA for a total consideration of $5.3 billion. Collectively, the combined entity will be one of Europe’s largest payment providers. The two groups have been in merger discussions for some time and together will have an estimated 70% market share in Italy along with a significant presence in most of Western Europe. Furthermore on Nexi, the group has reportedly made a non-binding offer for Denmark-based Nets Group. However, Nexi could face some competition in their pursuit for Nets as Global Payments has also reportedly shown interest. Separately, i3 Verticals have announced the acquisition of three companies for a total consideration of $19.6 million, although, the three companies were not disclosed.
In other M&A news, Paynetics announced Friday morning (Oct. 9th) their acquisition of Wirecard’s U.K. and Ireland corporate card portfolio. Details of this transaction were nondisclosed. This deal will allow Paynetics to broaden their existing presence in the U.K. and neighboring European markets.