Portugal-based SIBS acquires Wirecard’s Romanian subsidiaries

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Portugal-based SIBS recently announced the acquisition of card payment processing company in Romania – the Romcard/ Supercard (ex- Wirecard Romania). This, along with the acquisition of Poland-based Paytel, SIBS aims to strengthen its position in the two largest markets of Central and Eastern Europe.

The insolvency administrator appointed by the Munich Insolvency Court for WDSI and Wirecard AG, Rechtsanwalt Dr. Michael Jaffé of the law firm JAFFÉ Rechtsanwälte Insolvenzverwalter, sold all shares in Wirecard Romania SA to SIBS.

Romcard/ Supercard will work under SIBS brand and aim to contribute the reinforcement of the Portuguese brand position in the European payments market.

“With the sale of Wirecard Romania we have accomplished another success in the process of selling the Wirecard entities in the best interest of the creditors. There is substantial interest for the other international subsidiaries. Especially, for the PT Prima Vista Solusi, PT Wirecard Technologies Indonesia (both Jakarta, Indonesia) and Wirecard (Vietnam) Company Limited are in advanced auction processes”, insolvency administrator Dr. jur. Michael Jaffé stated.

Wirecard Romania’s subsidiary Romcard and the further subsidiary Supercard Solutions & Services has a market share in the merchant value add services market including loyalty systems and end to end marketing capabilities.

“SIBS has been working more consistently on its internationalization project in the last 10 years. Now we are strengthening our presence in Central and Eastern Europe. Romania is the 7th largest European market with an accelerated growth path, both in economic terms and in the payments sector. This move represents a great opportunity to SIBS to continue to grow and develop payment solutions on a European scale, standing out among its peers”, said Madalena Cascais Tomé, SIBS’ CEO.

“The international recognition of Romcard and Supercard brands, company’ customer and service portfolio and the Romanian market’s potential growth, together with SIBS know-how, will certainly result in a relationship of enormous success and growth.”