Equens Acquires Commerzbank Processing Arm

Sept. 13, 2010

Equens SE, a payment card processor based in Utrecht, the Netherlands, announced recently it will acquire all shares of montrada GmbH, a German card acquiring and network service providing company, which is currently wholly owned by Commerzbank AG. Equens called the acquisition of montrada “an important next step in further expanding its footprint in the European card market and reinforcing its position as one of the largest card processors in Europe.” Based on the agreement between Commerzbank and Equens concerning future joint activities, Equens said the acquisition will provide major opportunities in terms of scale and scope in one of Europe’s largest markets for card transactions. “The acquisition of montrada is a very important strategic step for us in further expanding our card activities and services in Europe,” said Michael Steinbach, chairman of the Equens board of directors. “montrada’s strong presence in the German cards market, combined with their highly skilled employees and the extensive cooperation agreement with Commerzbank, will allow us to take advantage of the enormous opportunities in the cards market in Germany and abroad. Our existing clients, the banks, and also global acting merchants, will benefit from this move.”