MasterCard to Acquire Provus

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MasterCard
MA
today announced that it has entered into an agreement to acquire Provus Bilişim Hizmetleri A. Ş. (“Provus”), Turkey's leading independent payment solution and processing provider. The acquisition will build on MasterCard's strategy of increasing its processing presence in high-growth markets and deliver superior processing solutions and innovative value added services for both financial institutions and customers in the emerging prepaid and mobile payments space. This transaction, which is subject to regulatory approval, is anticipated to close in the fourth quarter of 2013. Founded in 2001 and headquartered in Istanbul, Provus's customer base includes financial institutions, telecommunication service providers and retailers. Provus's payments solutions business includes issuer and
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Posted In: NewsGuidanceContractsM&AGlobalData Processing & Outsourced ServicesInformation Technology
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