Deutsche Bank and EVO Payments International reach agreement for sale of
Deutsche Card Services
FRANKFURT AM MAIN, Germany and NEW YORK, Nov. 29, 2012
FRANKFURT AM MAIN, Germany and NEW YORK, Nov. 29, 2012 /PRNewswire/ --
Deutsche Bank has reached an agreement with EVO Payments International, one of
the largest merchant acquirers in the United States, on the sale of Deutsche
Card Services, a wholly owned subsidiary of Deutsche Bank. Under the proposed
transaction, EVO Payments International will acquire 100% of Deutsche Card
Services. The transaction is subject to regulatory approvals.
Deutsche Card Services, Cologne, operates in 39 European markets. It provides
merchant acquiring services to multi-national clients of Deutsche Bank
including online, point-of-sale and ATM, as well as other related services.
In addition, Deutsche Bank's Global Transaction Banking division and EVO
Payments International will enter into a long-term strategic relationship
agreement. The agreement includes joint marketing efforts regarding card
acquiring and related products by the two parties on a pan-European exclusive
basis. The relationship is a reflection of Deutsche Bank's ongoing commitment
to card acquiring as an important product to Deutsche Bank's merchant clients.
James G. Kelly, CEO of EVO Payments International, said: "We are very excited
to be expanding our business and the existing US sponsorship and referral
relationship with Deutsche Bank into Germany and across Europe. We regard
Deutsche Card Services as an excellent platform to facilitate this expansion.
Clearly, we have been very impressed by the Deutsche Card Services team and
will leverage the Cologne site as our platform for our pan-European growth
"Our goal for EVO Payments International is to continue its path in becoming a
truly global leader in the payment transaction sector and financial services
industry," added Ray Sidhom, Chairman of EVO Payments International. "This
transaction represents the next step in having our company achieve this
mission, and through supporting the Deutsche Bank relationship, we are
confident in our ability to rapidly expand our market share."
Werner Steinmuller, Head of Global Transaction Banking and a member of the
Deutsche Bank Group Executive Committee, said: "Our main goals with this
transaction were to find a partner that we could trust to continue to deliver
high quality products and services to our clients as well as realizing the
significant long-term potential of the Deutsche Card Services business. We
feel that we have achieved both with EVO Payments. Deutsche Bank has an
excellent existing working relationship with EVO Payments in the US. This is
an opportunity to expand that relationship and reap the rewards of partnering
with an experienced and high quality provider."
About EVO Payments International, LLC
EVO Payments International is a leadingprivately-held payments processor and
acquirerfor merchants, Independent Sales Organizations (ISOs),financial
institutions, government organizations, and multinational corporations located
throughoutthe United States,Canada and Europe. EVOoffers an industry
leading array of secure,innovative products and solutions that support the
growth of their highly valued customers and their businesses.
Visit www.goevo.comfor more information about the company and its services.
About Deutsche Card Services
Deutsche Card Services offers international full-service solutions for debit
and credit card acceptance and other non-cash payment methods. Proven risk
minimization systems ensure that non-cash payment in e-commerce, in mail-order
retailing and at the point of sale is easy, quick and secure. Unique online
steering systems enable customers world-wide to monitor all of their
transactions at any time. When implementing efficient payment solutions, the
acquirer and payment service provider can rely on years of experience and a
dependable technical platform.
This release contains forward-looking statements. Forward-looking statements
are statements that are not historical facts; they include statements about
our beliefs and expectations and the assumptions underlying them. These
statements are based on plans, estimates and projections as they are currently
available to the management of Deutsche Bank. Forward-looking statements
therefore speak only as of the date they are made, and we undertake no
obligation to update publicly any of them in light of new information or
By their very nature, forward-looking statements involve risks and
uncertainties. A number of important factors could therefore cause actual
results to differ materially from those contained in any forward-looking
statement. Such factors include the conditions in the financial markets in
Germany, in Europe, in the United States and elsewhere from which we derive a
substantial portion of our revenues and in which we hold a substantial portion
of our assets, the development of asset prices and market volatility,
potential defaults of borrowers or trading counterparties, the implementation
of our strategic initiatives, the reliability of our risk management policies,
procedures and methods, and other risks referenced in our filings with the
U.S. Securities and Exchange Commission. Such factors are described in detail
in our SEC Form 20-F of 20 March 2012 under the heading "Risk Factors." Copies
of this document are readily available upon request or can be downloaded from
SOURCE Deutsche Bank
Contact: Klaus Winker, Deutsche Bank AG, +49 69-910 32249,
email@example.com; or John Grebe, EVO Payments International, LLC,
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