Santander Acquires Certain Wirecard Technology Assets in Europe
November 16 2020 - 3:46PM
Dow Jones News
By Adriano Marchese
Banco Santander S.A. said Monday that it has agreed to acquire a
number of specialized technological assets in Europe from the
merchant-payments business, Wirecard AG.
The Spanish bank said the acquisition will accelerate the
expansion in Europe of Getnet, Santander's payment and e-commerce
products and services technology company.
It added that the new assets will extend its global open
payments platform architecture and create synergies in trade and
payments.
Under the terms of the agreement between the Santander, Wirecard
and its insolvency administrator, Santander will incorporate around
500 employees currently managing the acquired assets.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
November 16, 2020 15:31 ET (20:31 GMT)
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