PURCHASE, N.Y. - Thursday, October 10th 2013
MasterCard (NYSE: MA) today announced that it has entered into an
agreement to acquire Provus Bilişim Hizmetleri A. Ş. (“Provus”),
Turkey’s leading independent payment solution and processing
provider. The acquisition will build on MasterCard’s strategy of
increasing its processing presence in high-growth markets and deliver
superior processing solutions and innovative value added services for
both financial institutions and customers in the emerging prepaid and
mobile payments space. This transaction, which is subject to
regulatory approval, is anticipated to close in the fourth quarter of
2013.
Founded in 2001 and headquartered in Istanbul, Provus’s customer base
includes financial institutions, telecommunication service providers
and retailers. Provus’s payments solutions business includes issuer
and acquirer processing, prepaid solutions and ATM processing
services.
Commenting on the acquisition, Javier Perez, President MasterCard
Europe said: “The acquisition of Provus enables MasterCard to
continue developing innovative solutions to add value to our
customers, and increases our processing presence in Europe. Turkey
continues to be a very exciting and growing market and this
acquisition provides an important platform that will enable us to not
only serve customers locally but also to continue to deliver
innovative payment solutions across the region.”
Tunc Dasar , CEO, Provus said: “Today’s announcement represents an
exciting new chapter for our business, which has been delivering
cutting edge payment solutions and processing services for both
traditional and non-traditional customers in Turkey. We look forward
to the future as part of the MasterCard family and are focused on
delivering innovation in payment solutions and processing to the
widest possible audience.”
Terms of the deal were not disclosed.
About MasterCard:
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in
the global payments industry. We operate the world’s fastest payments
processing network, connecting consumers, financial institutions,
merchants, governments and businesses in more than 210 countries and
territories. MasterCard’s products and solutions make everyday
commerce activities – such as shopping, traveling, running a business
and managing finances – easier, more secure and more efficient for
everyone. Follow us on Twitter @MasterCardNews, join the discussion
on the Cashless Pioneers Blog and subscribe for the latest news on
the Engagement Bureau.
Forward Looking Statements:
Statements in this press release which are not historical facts,
including statements about MasterCard’s plans, strategies, beliefs
and expectations, are forward-looking and subject to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements speak only as of the date they are made.
Accordingly, except for the company’s ongoing obligations under the
U.S. federal securities laws, the company does not intend to update
or otherwise revise the forward-looking information to reflect actual
results of operations, changes in financial condition, changes in
estimates, expectations or assumptions, changes in general economic
or industry conditions or other circumstances arising and/or existing
since the preparation of this press release or to reflect the
occurrence of any unanticipated events. Such forward-looking
statements include, without limitation, statements related to the
Company’s ability to:
get the regulatory approval to allow closing the transaction in
the fourth quarter of 2013; and
continue to grow its processing presence in Europe, serve
customers locally and deliver innovative payment solutions across the
region.
Actual results may differ materially from such forward-looking
statements for a number of reasons, including those set forth in the
company’s filings with the Securities and Exchange Commission (SEC),
including the company’s Annual Report on Form 10-K for the year ended
December 31, 2012, the company’s Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K that have been filed with the SEC during
2013, as well as reasons including difficulties, delays or the
inability of the company to achieve its strategic initiatives set
forth above. Factors other than those listed above could also cause
the company’s results to differ materially from expected results.
Contacts
Media:
MasterCard
Chris Monteiro, +1-914-249-5826
Chief Communications Officer
chris_monteiro@mastercard.com
MasterCard Europe
Rose Beaumont, +32 2 352 52 35 or +44 (0) 20 7557 5199 / + 44 (0)
7956 309 550 (mobile)
Senior Vice President, Communications
rose_beaumont@mastercard.com
MasterCard Turkey
Selin Semigolu, +90-212-351-9900
Communications Manager
selin_semigolu@mastercard.com
Investor:
MasterCard
Barbara Gasper, +1-914-249-4565
Executive Vice President, Investor Relations
investor_relations@mastercard.com
Permalink: http://me-newswire.net/news/8779/en
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