Worldline, one of the leading payment companies worldwide, today announced that it has signed an agreement to acquire a 92.5% stake in Cardlink, a well-known network services provider in Greece.
According to an official announcement, Worldline is planning to expand its presence in Greece with the acquisition of Cradlink. The company termed the latest agreement as a strategic opportunity for Worldline to expand the firm’s merchant services business in the Greek market.
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Founded in 2004, Cradlink is serving more than 10,000 online merchants. Cradlink has formed several partnerships with some of the leading names in the Greek financial sector including Alpha Bank and Eurobank.
Commenting on the latest announcement, Gilles Grapinet, Chairman and CEO of Worldline, said: “The acquisition of Cardlink is a significant development in our Group consolidation strategy in Europe, extending our merchant services activities towards the South of Europe. Thanks to this transaction, we indeed benefit from a leading network services provider position in the fast-growing Greek market, driven by the ongoing adoption of electronic payments. This transaction offers attractive development opportunities for Worldline in the coming years and a strong footprint to further expand Cardlink presence in Greece.”
In April 2021, Worldline reported its financial results for the first three months of 2021. The payments firm reported revenue of €1,080 million in Q1 2021, in line with the expectations of the company.
Worldline termed Greece as an attractive payment market due to different growth opportunities. The company is expecting a positive macroeconomic environment in the country. “This is a very important day for our company. We are very excited to become part of the Worldline Group. This development will strengthen our positioning in the Greek market as the leading player in the evolution of the payments business and give us access to products and services that will enhance our offering and deliver more value to our merchant and bank customers,” George Drimiotis, CEO of Cardlink mentioned in the press release.
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