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PAX Acquires Italian E-payment Services Company to Expand European Footprint

· Press releases

PAX Global Technology Limited (“PAX,” HKSE stock code: 00327.HK), one of the world’s leading Electronic Funds Transfer Point-of-Sale Terminal (“E-payment Terminal”) Solutions Services Providers, is pleased to announce the acquisition of a total of 60% of the entire corporate capital in Centro Servizi Consortili Italia (CSC).

CSC is an organization of service companies operating across Italy which provides installation, technical assistance, logistical support and repair services for circa 1 million Point of Sale terminals, as well as other hardware used by banks, such as ATM machines, cash & coin counters and computer servers. All of Italy’s leading payment processors are customers of CSC, including CartaSi, UniCredit, Consorzio Triveneto, Setefi (Intesa San Paolo), Banco Popolare and UniCredit.

Mr. Mario Spolverini, President of CSC, said: “We are delighted with this investment by one of China’s most respected IT sector companies”.

Mr. Mark O’Flynn, Sales Director at PAX, added: “Apart from strengthening PAX’s growing market share in Italy, our many channel partners and customers across Europe will also be able to avail of CSC’s terminal repair services”.

Mr. Andrew Wu, Vice President for the EMEA Region at PAX, concluded: “Our stake in CSC will enable us to vertically integrate into the payment value chain and better service our Italian banking customers by operating a one-stop-shop for electronic payment solutions”.

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