EVO Completes Purchase of Deutsche Card Services

EVO Payments International LLC has completed its acquisition of Deutsche Card Services, which was a subsidiary of Deutsche Bank.

The acquisition allows EVO to operate as a payments institution and a principal member of Visa and MasterCard in 39 European markets. EVO will now operate as EVO Payments International GmbH.

As part of the deal, Deutsche Bank’s Global Transaction Banking division and EVO have entered into a partnership that includes a joint marketing and card acquiring in Europe.

"As we continue to expand our global scale and reach, the acquisition of Deutsche Card Services and our partnership with GTB provides significant additional product and market coverage that is crucial in meeting the expanding needs of our customers," said EVO CEO James G. Kelly in a release.

EVO, which sells processing and merchant acquiring services for merchants, independent sales organizations and financial institutions, has been providing services in an increasing number of markets, a strategy that includes an acquisition of Banco Popular’s merchant acquiring business. Madison Dearborn Partners purchased a minority stake in EVO this year to help fund its international growth.