Finextra reports that SIA-SSB has merger is now completed. This constitutes a merger between Società Interbancaria per l’Automazione and Cedborsa and Società per iServizi Bancari and it may become one of Europe’s technology main players in the card processing, payments system and capital markets space. The firm expects to manage 7.3 billion transactions with debit and credit cards and payment and collection operations, 8 thousand billion bytes carried on the network and 73 million trading transactions on financial markets this year.
The new group is composed of the parent company and the subsidiaries Kedrios, Perago, RA Computer, SiNSYS and TSP, which will maintain autonomous corporate structures. Hungarian firm GBC will be added to the group pending authorisation by the local market antitrust authorities.