Warburg Pincus buys easycash

Warburg Pincus has bought easycash, a German point of sale network service provider, from First Data International for an undisclosed sum.

First Data sold easycash in an auction, which attracted the interest of both industrial buyers and financial investors.

Easycash: network service provider

Easycash offers customised card-based payment solutions and credit card routing to a broad range of merchant customers.

The transaction’s completion is subject to approval of the German Federal Cartel Office.

This is Warburg Pincus’ second transaction in Germany this year.  The first was Petrotec, a German collector and recycler of used fats and oils, and a producer of biodiesel.

A spokeswoman for Warburg Pincus said: “This follows the appointment of Christoph Neizert as managing director in Frankfurt, and demonstrates the company’s growing German presence.”

This latest acquisition follows Warburg Pincus’ final closing of Warburg Pincus Real Estate, a $1.2 billion (€94 million) global fund that will be invested in real estate opportunities worldwide.