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DLA Piper Advises UBIS on Sale of eMoney Processing Activities

DLA Piper Advises UBIS on Sale of eMoney Processing Activities

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DLA Piper has advised UniCredit Business Integrated Solutions (UBIS) on the sale of its card processing activities to the Italian technology company SIA group. The purchase price amounted to EUR 500 million. CHSH reportedly advised the SIA group in Austria on the deal.

UBIS is a global service company of UniCredit with over 10,000 employees and offices in 11 countries. The primary objective is to consolidate and reorganize the operational activities within UniCredit group. The SIA group is a leader in the creation and management of technology infrastructure and services for financial institutions. The Milan-based group operates offices in Rome, Macerata, Brussels, and Utrecht. 

The business unit sold by UBIS includes approximately 13.5 million payment cards as well as the management and operation of several thousand POS terminals and ATMs in Italy, Germany, and Austria. In addition, UBIS and SIA signed a 10-year outsourcing contract for the provision of emoney processing services.

The DLA Piper team was led by Corporate Partners Christoph Mager (Vienna) and Goffredo Guerra (Milan). The Vienna-based team also included Partner Christian Temmel, Franz Althuber, and Sabine Fehringer, Senior Lead Lawyer Valerie Kramer, Senior Associates Michaela Wernitznig-Kittel, Johanna Holtl, Susanne Jetschgo, and Stefan Panic, and Associates Sarah Plasser, Tugce Yalcin, and Christoph Schimmer. 

Editor's Note: After this article was published, CHSH confirmed its involvement in the deal. The firm's team consisted of Partners Thomas Trettnak, Heinrich Foglar Deinhardstein, Peter Knobl, Bernhard Kofler Senoner, and Johannes Prinz, Senior Attorneys Jakob Hartig and Armin Schwabl, Attorneys Michael Mayer and Susanne Molitoris, and Associate Andrea Harrich.

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