SIX bought by a French group

 In News

Shortly after swallowing Aduno, SIX has sold its Payment Services unit (in charge of payment solutions) to the French group Worldline for CHF 2.75 billion.

Last November, as part of its strategic reorientation, SIX announced that it wanted to give up its credit card business.

 

A TEN YEARS COMMITMENT

The current management and over 1,300 Swiss and European employees of SIX Payment Services will be transferred to the French company. Both companies have committed to collaborate for a period of ten years. Worldline is also taking a stake in the company TWINT, in charge of the development of the eponymous payment app, for an amount of 15 to 20 million euros.

The name SIX Payment Services will remain on the market until further notice. Worldline will thus be able to “benefit from the strong and successful SIX brand in its existing markets,” the statement said.

 

A REORGANIZATION IN DEPTH

Born in 2008 from the merger of SWX Group (Swiss stock exchange), Telekurs Group (information and financial services) and SIS Group (clearing), SIX is controlled by 130 financial institutions, which also represent its main users. Credit Suisse and UBS alone hold nearly 30% of the company.

“One hundred million savings planned”
The company intends to focus on infrastructure services for its shareholders, namely securities transactions, payment transactions and financial information. SIX was planning to sell its majority stake in the card and payment terminal business, it is now done.

 

Source
Le Temps: link
SIX: link

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