European technology infrastructure and services provider Sia has acquired 51 percent of the share capital of Emmecom, an Italian company in the sector of fixed, mobile and satellite telecommunications networks, with the right to exercise the option for the purchase of the remaining 49 percent of the capital as of 2016. In particular, the acquisition of Emmecom represents for Sia a further opportunity for growth and expansion in cards markets and connectivity services.
Sia's objective is to create a single technology infrastructure operative at European level to enable communication between merchants and banks. This platform will gather the traffic of cards payments generated by the multi-channel PoS terminals and deliver it to the authorisation systems of banks, terminal handlers and other acquirers. Via a web portal (accessible also by tablet), it will be possible to keep under control the flow of transactions managed through the various connection channels, producing detailed statistics and reports on the operations of all the PoS terminals.
The acquisition of Emmecom will additionally enable SIA to develop and launch network services for remote monitoring based on M2M technology.
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