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Atos Origin acquires Indian payments processor Venture Infotek |
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Atos Origin has said that it has acquired Venture Infotek, an independent provider in the Indian payments market, for cash on closing and financed through existing credit lines.  Created in 1991, Venture Infotek provides merchant acquiring, card processing, loyalty programs, government benefits programs on behalf of the Indian banks, including a large number of nationalized banks, and retailers. It employs around 500 people.Atos Origin said it was convinced by the entrepreneurial spirit of Venture Infotek, quality of its technology platforms and portfolio of its existing customers. It expects revenue of EUR 30 million for 2011, as Venture Infotek has an annual average growth rate was 25 per cent over the last three years.  Atos Origin anticipates a bright future for this business, given that the main growth drivers for the payments industry in India include the dynamics of the Indian economy that will generate a significant increase in the number of payments transactions. As one of the largest banking systems in the world, it has 60,000 bank branches serving 400 million people, with penetration rates still low for banking cards, backed by a strong government focus to reduce the cash economy and establish card usage. Atos Origin also foresees significant improvements in infrastructure and interconnectivity and an increasing number of ATMs and terminals. Venture Infotek will be integrated in to Atos Wordline, the specialized entity of Atos Origin in Hi-Tech Transactional Services (HTTS) and electronic payments in order to optimize the synergies particularly for the portfolio of offerings. Atos Origin systems are already used by a large number of leading banks in China and in other south-east Asian countries such as Singapore, Vietnam, Thailand, Malaysia, Taiwan or the Philippines.
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