Payment service provider Concardis has increased its stake in Cologne-based Cardtech Card & POS Service to 100% of the shares.
In 2015, Concardis purchased nearly 70% of the shares in Cardtech, and with the recent transaction the acquired company will be fully integrated into the Concardis Group.
The acquired business will continue to operate as an independent limited liability company under German law, while Dietrich Gottwald and Christof Kohns will continue to be the firm’s managing directors.
Cardtech has primarily been specialised in POS network operations and payment settlements. Cardtech in collaboration with Concardis has set up a payment service provider platform for e-payments to serve as an omni-channel payment provider.
Concardis CEO Marcus Mosen said: “By taking over Cardtech we are strengthening our position in technical network operations and bringing crucial IT expertise on board. In this way, we will be able to expand the Cologne site into a central technical hub and press ahead more efficiently there with developing innovative solutions for stationary and virtual Points of Sale
“By bundling expertise under a single roof we will be able to work together more closely within the group and thus develop new production solutions for our clients even faster.”