DATAGROUP completed the acquisition of a 68% stake in Diebold Nixdorf Portavis from Diebold Nixdorf.

DATAGROUP, a German IT service company, completed the acquisition of a 68% stake in Diebold Nixdorf Portavis, a software company in Hamburg, Germany, from Diebold Nixdorf, an American multinational financial and retail technology company. Financial terms were not disclosed. "The future of the banking sector is digital. In a low interest rate environment, electronic banking and mobile payment services provide a means for improving the profitability in the banking world – this also increases the demand for services in the IT sector. At the same time, the increasing regulation of the sector, e.g. the EU’s Payment Services Directive, leads to higher requirements for banks. We assume that we can continue to grow strongly in the banking sector," Andreas Baresel, DATAGROUP Chief Production Officer.