21 April 2017
CSC Italia joins PAX Technology group
With the acquisition of CSC Italia’s majority capital , PAX has strengthened its position in the payment systems market in Italy and Europe.
After signing of the agreement last December, the admission of PAX Technology Limited in the capital of CSC Italia Srl was completed on Thursday, April 20.
The Chinese multinational, a market leader in China and the third world POS manufacturer, has acquired 60% of CSC Italia while the remaining capital has remained in the hands of its founding partners which are the former consortium’s members, as well as qualified partners for the provision of on- site services.
Leading the service assistance market in Italy, with its network of direct and indirect partners, CSC is able to deliver over 15,000 monthly operations, providing a 95% SLA.
With this operation, CSC Italia consolidates its network of installation, maintenance and logistics services in the world of POS and electronic payment systems, a network already widespread, strengthening its structure and position in the market across the country.
CSC Italia will be guided by a new CDA expression of the majority shareholder, that will keep the main people who have led it over the last 13 years as delegates of other shareholders.
In fact, in order to give an important sign of continuity, PAX group has strongly wanted Mr. Mario Spolverini , founder and creator of the project set up in 2004, as CEO.
Mario Spolverini, the new CEO, as well as CSC Italia’s former president, said: “We are very honored that a world-leading company in Payments sector has believed in CSC, closing a 13 year history cycle and launching a new, even more ambitious challenge. Thanks to PAX, CSC’s role will continue to be of prime importance in on-site banking and non-banking services, but at the same time new functional service opportunities will be offered to the whole EMEA group.”
Andrew Wu, vice president of PAX EMEA and new chairman of CSC Italia, concluded: “Our interest in CSC will enable us to integrate vertically into the value chain of payments and better serve our Italian banking customers as sole electronic payment solution provider “.