Portuguese payments processor Sibs is expanding its footprint in Central Europe by acquiring Poland’s ITCard. Financial terms of the deal were not disclosed.
ITCard is a payment service operator specializing in ATM services under the Planet Cash brand, electronic payment processing through the Planet Pay terminal network, and the issuance and maintenance of Visa and Mastercard cards. The company’s 470 employees will transition to Sibs under the agreement, collaborating with the existing management team.
Sibs, which has established a presence in Poland since 2008, previously acquired the Romanian operations of the defunct German firm Wirecard in 2020. The ITCard acquisition enhances its regional commitment, adding 181,000 POS units and 5,500 ATMs.
Rui Lima, Sibs’ Chief International Officer, stated, “The acquisition of ITCard is a significant step in consolidating our European presence and delivering long-term value for our clients and partners through technology-driven innovation.”