First Data to Acquire GZS

GZS provides card issuing and acquiring processing as well as cross-border debit and fraud management solutions to its banking clients. Easycash, a fully owned subsidiary of GZS, delivers network service provider and E-business services. Today, GZS processes 982 million transactions per year and provides outsourced processing services for 8.5 million German and Swiss credit cards. Furthermore, GZS provides merchant processing services for its clients who serve more than 300,000 merchants. First Data's acquisition will enable the company to broaden its service offering to its banking and merchant clients and to support their cross-border strategies for growth.

David Yates, president, Europe, Middle East and Africa, First Data International, said: "We are very pleased that GZS' shareholders have selected First Data, and that we can bring renewed stability and investment capability to the company. This acquisition is a major step for First Data, and demonstrates our commitment to the German market. We are convinced that we will bring real value to GZS clients by offering a broad range of electronic processing and support services. We also look forward to working with the GZS management and staff to further develop the business."

Bernd M. Fieseler, chairman of the Supervisory Board of GZS, added: "From the partnership with First Data, GZS' clients will benefit from enhanced services and economies of scale. GZS is a market leader for card processing in Germany; First Data is a leading company in its industry both in Europe and worldwide. With First Data, we stabilize the ownership structure of GZS and enlarge services and investment capabilities. In this respect, First Data is our favoured partner to secure the future of GZS."

Norbert Pawlowski, chairman of the management of GZS, said: "The GZS management team welcomes this acquisition and has actively supported it. With First Data, GZS has a new shareholder, which brings all necessary prerequisites to develop our business and to significantly strengthen our competitiveness. As part of First Data, the staff of GZS will play a significant role in First Data's international expansion. From this, the company, its clients and staff will all benefit."