TAS International SA, the wholly-owned subsidiary of TAS S.p.A., has signed a binding agreement for the acquisition of the Swiss company, Infraxis AG, and its British subsidiary, Infraxis Ltd (UK).
Infraxis is a leading company in the Swiss and German payment markets, where in the latter its PayStorm processing solution currently authorizes payments for approximately 30% of all issued credit cards. PayStorm supports both card and instant payment solutions within a microservice, omni-channel framework, where ultimate flexibility, scalability and reliability are assured for deployments within private and public cloud networks. Infraxis also provides quality assurance and testing solutions based upon its enterprise-wide, on-demand testing solution IQS, which offers simulation and testing for all aspects of payment infrastructure.
With this acquisition, TAS Group increases its market coverage in both Switzerland and Germany, where it is already present within the Capital Markets sector. TAS will now offer agile processing solutions across all verticals of the payment market, increasing its offerings within existing countries of operation, such as its home market Italy, and empowering its expansion internationally.
The integration of the two companies is expected to result in significant growth for the combined business, primarily due to an increase in turnover at an international level. Significant synergies are envisaged linked to both cross-selling opportunities and platform rationalization in the areas of card program management, credit, debit and fuel card issuance, mobile payments and fuel payment processing.
President Dario Pardi commented: “This acquisition forms part of the strategy laid out in the 2020-22 Business Plan, approved in March, where international expansion is one of the fundamental growth parameters. The acquisition of Infraxis is certainly an important step for TAS Group considering that with the new skills and solutions acquired, TAS will now play a primary role in the digital payments sector at a European level. The confident investment in the capital of TAS International by the current shareholders of Infraxis further confirms the validity of the business plan, and guarantees a combined contribution towards a successful and fruitful Business Integration“.
CEO Valentino Bravi added: “We are now entering the concrete phase of the new TAS following the complete financial restructuring and the strengthening of our organisation. TAS is now a completely transformed business, capable of seizing every opportunity that our market offers. The acquisition of Infraxis represents a continuation of our rapid progress and it enriches us with new solutions in the world of Digital Payments, with unique specificities such as the one dedicated to the Fuel Card sector. Furthermore, it allows us to expand our presence in countries with high payment digitization rates, such as Switzerland and Germany. We view this acquisition as being the strategic starting point for further international momentum“.
Manfred Thomi, CEO of Infraxis concluded: “The bringing together of Infraxis and TAS marks the start of the next exciting chapter for us. We at Infraxis are looking forward to offering our customers the benefits of a wider combined set of complementary payment solutions, which are backed up by a strong corporation with an international outlook. We are now perfectly positioned to better serve existing customers and to expand the TAS business internationally.”