Deutsche Bank and EVO Payments International reach agreement for sale of Deutsche Card Services
FRANKFURT AM MAIN, Germany and NEW YORK, Nov. 29, 2012 /PRNewswire/ -- Deutsche Bank has reached an agreement with EVO Payments International, one of the largest merchant acquirers in the United States, on the sale of Deutsche Card Services, a wholly owned subsidiary of Deutsche Bank. Under the proposed transaction, EVO Payments International will acquire 100% of Deutsche Card Services. The transaction is subject to regulatory approvals.
Deutsche Card Services, Cologne, operates in 39 European markets. It provides merchant acquiring services to multi-national clients of Deutsche Bank including online, point-of-sale and ATM, as well as other related services.
In addition, Deutsche Bank's Global Transaction Banking division and EVO Payments International will enter into a long-term strategic relationship agreement. The agreement includes joint marketing efforts regarding card acquiring and related products by the two parties on a pan-European exclusive basis. The relationship is a reflection of Deutsche Bank's ongoing commitment to card acquiring as an important product to Deutsche Bank's merchant clients.
James G. Kelly, CEO of EVO 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."
"Our goal for EVO Payments International is to continue its path in becoming a truly global leader in the payment transaction sector and financial services industry," added Ray Sidhom, Chairman of EVO Payments International. "This transaction represents the next step in having our company achieve this mission, and through supporting the Deutsche Bank relationship, we are confident in our ability to rapidly expand our market share."
Werner Steinmuller, Head of Global Transaction Banking and a member of the Deutsche Bank Group Executive Committee, said: "Our main goals with this transaction were to find a partner that we could trust to continue to deliver high quality products and services to our clients as well as realizing the significant long-term potential of the Deutsche Card Services business. We feel that we have achieved both with EVO Payments. Deutsche Bank has an excellent existing working relationship with EVO Payments in the US. This is an opportunity to expand that relationship and reap the rewards of partnering with an experienced and high quality provider."
About EVO Payments International, LLC
EVO Payments International is a leading privately-held payments processor and acquirer for merchants, Independent Sales Organizations (ISOs), financial institutions, government organizations, and multinational corporations located throughout the United States, Canada and Europe. EVO offers an industry leading array of secure, innovative products and solutions that support the growth of their highly valued customers and their businesses.
Visit www.goevo.com for more information about the company and its services.
About Deutsche Card Services
Deutsche Card Services offers international full-service solutions for debit and credit card acceptance and other non-cash payment methods. Proven risk minimization systems ensure that non-cash payment in e-commerce, in mail-order retailing and at the point of sale is easy, quick and secure. Unique online steering systems enable customers world-wide to monitor all of their transactions at any time. When implementing efficient payment solutions, the acquirer and payment service provider can rely on years of experience and a dependable technical platform.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2012 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.
SOURCE Deutsche Bank