KPMG acted as the buy-side advisor and successfully advised Czech-based IT company Solitea on the acquisition of Pay Solutions, provider of payment gateway Besteron, and some of the activities of Tapeon, operator of POS terminals and other payment solutions.
Details of the transaction
Solitea a.s.
Solitea a.s. is one of the largest software companies in Central Europe, based in Brno, Czech Republic, and backed by the Slovak private equity company Sandberg Capital, správ. spol., a.s. The company develops business systems enabling its clients to better manage their daily operations and legislative obligations. Over the course of last few years, the company has been one of the fastest-growing IT players in the CEE region, while making a series of acquisitions in the European ICT sector.
Pay Solutions a.s.
Pay Solutions a.s. has developed the Besteron payment gateway, which provides comprehensive online payment solutions for merchants - online card payment with the possibility of accepting payments from any country in the world, online transfers of Slovak and Czech banks, and POS terminals. Besteron’s online payments are secured by the highest available security standard PCI DSS Service Provider Level 1.
Tapeon s.r.o.
Tapeon s.r.o. was established with the intention of improving the availability of contact and contactless payment services in the Slovak market in 2015. It operates on the domestic market as an official ISO-certified partner of Visa and Mastercard. Through its partners, it is a supplier of payment solutions for independent operations, retail networks, self-service kiosks, and e-shops.
Solitea’s investment will enable Pay Solutions to spend more on its innovation initiatives and help Besteron to become a major payment system in the CEE region. The Besteron solution and Tapeon are currently used by more than 1,500 online merchants and 3,000 POS terminals in Slovakia, with an expected volume of processed online payments of EUR 400 million this year.
KPMG Role
KPMG in Slovakia provided comprehensive buy-side financial and tax due diligence to Solitea in its acquisition of Pay Solution and Tapeon.
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