German payments company Wirecard has purchased all shares of Romanian payment provider Provus Group for EUR32m from Polish private equity fund Innova Capital.
Provus, which employs 114 staff, supports companies in outsourcing acquiring and card processing, e-commerce payment transactions and point-of-sale (POS) operations.
The company has also worked with the Romanian government in the digitisation of health and payment cards.
It also offers end-to-end solutions in the field of card management, including a card personalisation office and several payment transaction options across various channels including ATMs, POS and e-commerce.
Wirecard CEE MD Roland Toch said: "This acquisition will allow Wirecard to systematically step up its expansion into Eastern Europe. The business model compliments our global payment gateway as well as our European acquiring and issuing licence."
Innova Capital Managing Partner Krzysztof Kulig said: "The collaboration with a strong and renowned partner as Wirecard is a guarantee of implementation of the long-term strategy to strengthen leadership in financial service sector in Romania."
The existing management team will remain in place following the acquisition.