Fiserv is planning to buy out the joint venture partner behind AIB Merchant Services.
Fiserv said in a press release that it agreed to buy the 49.9% stake in AIBMS that it doesn’t already own from AIB Group. The joint venture was created in 2007 in Ireland.
The price wasn’t disclosed.
“We have enjoyed a strong partnership with AIB Group, as together we grew AIBMS into one of the leading acquirers in Europe, and I look forward to continuing to work closely with them to support our mutual clients,” Katia Karpova, Fiserv’s head of the EMEA region, said in the release.
“Our focus will remain on delivering market-leading solutions to clients of all sizes across Ireland and the broader European market,” Karpova added.
The transaction is expected to close in the third quarter.