Nexi completed the acquisition of Intesa merchant payments business for $1.1bn.

Nexi, a provider of payment services, completed the acquisition of the merchant payments business of Intesa Sanpaolo, an Italian banking group, for $1.1bn. "The agreement with Intesa Sanpaolo represents another important step in the development of Nexi's strategy, that confirms itself to be a key partner for the banking system in the field of digital payments development, a leverage for the modernization of Italy. The acquisition of Nexi shares by Intesa Sanpaolo represent for us a further signal of confidence in the company's development outlook and, in its mission of being the PayTech company, an independent partner of Italian banks,", Paolo Bertoluzzo, Nexi CEO.