US-based payments services provider, EVO Payments International, has completed its acquisition of Deutsche Card Services (DeuCS), formerly a wholly-owned subsidiary of Deutsche Bank.
The completion of the takeover of the European merchant acquiring business, which was first announced last December, means that DeuCS will conduct all its business from now on under the EVO Payments International brand.
The acquisition provides a platform that allows EVO to operate as a payments institution and a principal member of Visa and MasterCard across 39 European markets. As part of the acquisition, Deutsche Bank’s Global Transaction Banking (GTB) division and EVO also entered into a long-term strategic partnership that includes an exclusive pan-European joint marketing arrangement covering card acquiring and related products for GTB customers.
“As we continue to expand our global scale and reach, the acquisition of DeuCS and our partnership with GTB provides significant additional product and market coverage that is crucial in meeting the expanding needs of our customers,” said James Kelly, chief executive officer (CEO) of EVO. “We are excited about the potential this acquisition and our partnership with GTB bring to EVO, and, most importantly, our customers and partners.”
Jens Mahlke, who has been on the management board of DeuCS since 2008, will manage EVO's European operations.