Mercury-backed Nexi, an Italy-based financial technology company, completed the merger with SIA, a financial technology solutions provider, in a $5.3bn deal. “This transaction will create a large Italian PayTech company leader in Europe, a great technological and digital excellence with scale and capabilities to play an increasingly leading role in Italy and at an international level in a market, like the European one, that sees strong consolidation trends. The new PayTech company, through its independent role and having CDP as anchor investor, will continue on its growth path as large Italian public company contributing, to an even greater extent, together with its partner Banks, to further accelerate the digital payments penetration in Italy and to the digitalization and modernization of the Country in favour of citizens, enterprises and Public Administration,” Paolo Bertoluzzo, Nexi CEO. On December 16, 2021, Nexi signed the deed to combine, and announced the SIA merger will be effective as of January 1, 2022.