Nexi and SIA agree to merge; create new European PayTech entity

By Megha Bhattacharya

Italian PayTech Nexi and SIA signed a memorandum of understanding (MoU) in a bid to integrate the two groups through the merger by incorporation of SIA into Nexi. The MoU was executed by the respective reference shareholders, CDPE3 and FSIA Investimenti S.r.l. (“FSIA”) as regards SIA, and Mercury UK HoldCo Limited (“Mercury”), company owned by Bain Capital, Advent International and Clessidra funds, as regards Nexi.

The CEO of Nexi, Mr Paolo Bertoluzzo, commented, “…The new PayTech company, through its independent role and having CDP as anchor investor, will continue on its growth path as large Italian public company contributing, to an even greater extent, together with its partner Banks, to further accelerate the digital payments penetration in Italy and to the digitalization and modernization of the Country in favour of citizens, enterprises and Public Administration. The combination of the best skills in technology and innovation of Nexi and SIA teams is a strength to even further develop more advanced solutions for all partner Banks and customers. I believe that Nexi and SIA people should be proud of this new leading player: a great opportunity for all”.

The companies stated that the entity resulting from the merger will remain listed on the MTA and will cover the value chain of digital payments across all market segments. It will also offer solutions ranging from digital payments acceptance services for small and large merchants, omnichannel and e-commerce solutions to issuing and management of all type of cards to mobile payments apps, from B2B digital payments solutions to open banking, from local public transportation solutions to banking networks as well as clearing and trading services for the main Italian and International Institutions.

The CEO of SIA, Mr Nicola Cordone, said, “The integration of important hi-tech groups such as SIA and Nexi, thanks to the fundamental role and support of CDP, will create one, large, Italian digital payments player, leader in Europe and boasting the highest levels of excellence for its know-how, people and capabilities of on a global level. This operation will contribute to accelerate our Country on the path of digitalization towards a cashless society. Today, bringing together the strengths of two realities of excellence such as SIA and Nexi, we want to continue leading on innovation, with an even greater emphasis, offering infrastructures and forward-looking technological services, and affirm our leadership in Europe in a sector like e-payments that continues consolidating.”