DLA Piper advises leading fintech solutions provider SIBS on financing of ITCARD S.A. acquisition

DLA Piper has advised SIBS on the financing of the acquisition of shares in ITCARD S.A., one of Poland’s leading payment services providers. ITCARD is one of the leading payments processing outsourcing companies in Poland, specialising in ATM services under the Planet Cash brand, electronic payment processing services through the Planet Pay terminal network, as well as the issuance and maintenance of cards by VISA and Mastercard.

SIBS is a leading European provider of payment and financial technology solutions, operating across multiple international markets. This acquisition further strengthens the company’s ability to offer omnichannel digital commerce solutions to financial institutions and merchants in Poland.

DLA Piper was responsible for all stages of the financing process, including structuring of the financing and work on the term sheet, drafting and negotiation of the finance documentation, and coordination of the satisfaction of conditions precedent and utilisation of the facilities.

A cross-border team from DLA Piper's Finance practice from its Warsaw and Lisbon offices worked on the transaction led by partner Katarzyna Jakubiak. The team also comprised of partner Gonçalo Castro Ribeiro, senior associate Anna Tomaszewska, associate Maria João Cunha, and junior associate Jakub Figura.