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European law firm Fieldfisher has advised Wirecard, Europe's leading payment processing and issuing services company, on the acquisition of Provus, the Romanian payment provider.
The €32m acquisition was made from Innova Capital, the Polish private equity house.
Bucharest-headquartered Provus supports companies in outsourcing, acquiring and card processing, e-commerce payment transactions and point-of-sale (POS) operations. Its customer base includes major Romanian banks in addition to significant telecommunications and retailers. Provus has also worked with the Romanian government on the digitisation of health and payment cards.
Wirecard is a software and IT specialist for outsourcing and white label solutions for payment processing and issuing products, and the Provus acquisition is part of the company's strategy for expansion into Eastern Europe.
The Fieldfisher team was led by corporate partner Jan Hartmann, who was supported by Christine Phillips, Patrick Halfpap, Sascha Dethof, Laura Fielder and Friederike Spaniol. A team from Romanian firm Stratulat Albulescu advised on Romanian law issues and conducted due diligence.