In November 2017, the company was renamed to Nexi, while its card business was renamed from CartaSi to Nexi Payments. The RWP on Nexi reflects its announced merger with SIA S.p.A. (SIA), its main competitor in Italy. In February 2017 ICPBI acquired the card business of Banca Monte dei Paschi di Siena for €520 million. The acquisition will be entirely funded through a share exchange that will see SIA's shareholders receiving a 30% stake in Nexi's enlarged share capital, with … CEO Paolo Bertoluzzo told analysts Nexi expected to conclude the Nets deal in the second quarter and the SIA merger in the third, creating a major European player next to France’s Worldline, itself fresh from the acquisition of Ingenico. Italian payments providers Nexi and Sia are set to finalise a €15bn merger that will create one of Europe’s largest fintech groups, according to three people involved in the negotiations. The deal—that can lead to an organization with an estimated mixed market capitalization of round €15 billion—marks the top of monthslong […] When the SIA purchase is complete, Nets’ stake in Nexi will decrease to 31%. On 5 October 2020 it was announced Nexi will merge with SIA S.p.A., will create one of Europe’s largest fintech groups. The European Commission (EC) has granted an unconditional authorization for the $9.28 billion ( €7.8 billion) acquisition of Denmark’s Nets by Italy’s Nexi. The joint company Nexi-SIA enters into italian’s top 10 publicly traded businesses, valued at 15 billions € The 2 italian paytech companies Nexi and SIA have merged and the new organization will become one of the 10 largest traded companies in Italy, with annual revenue of 1,8 billion €, a market value of more than 15 billion € and over a 70% market share in Italy. The acquisition of SIA would solidify Nexi’s market leadership position and infrastructure in Italy as well as fueling an international expansion ambition supported by SIA’s strong position in pan-European instant payments. Nexi Chief Executive Officer Paolo Bertoluzzo has rapidly expanded the company through acquisitions, announcing his pursuit of Nets just days after agreeing to the milestone acquisition of Italy’s SIA SpA for 4.6 billion euros. Nexi is a tremendous success story, evolving from a traditional interbank utility to become a modern and vast fintech champion in Italy. Italy’s Nexi NEXI 3.14% SpA agreed late Sunday to amass crosstown fintech rival SIA SpA for about €4.6 billion, equal to virtually $5.Four billion, in a inventory deal that creates a European big within the fast-consolidating funds sector. The acquisition is estimated to be 15-20% Cash EPS Accretive at anticipated full run-rate synergies. Nexi will initially focus on the combination with SIA in Italy while Nets management continues to run the company like a stand alone business until a wider integration takes place in 2022. Nexi-SIA will be a leader in Europe, handling payments for roughly 2 million merchants, managing 120 million cards and processing more than 21 billion transactions a year. Italy's Nexi agreed to acquire crosstown fintech rival SIA for about €4.6bn in a stock deal that creates a European giant in the fast-consolidating payments sector. The deal -- that will result in a company with an estimated combined market capitalisation of around €15bn -- marks the end of monthslong negotiations.
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