Baker McKenzie assisted Nexi, a leading company in payment services management, with the acquisition of Sparkling 18. Sparkling 18 is an Italian fintech company that has been operating in the sector of new digital payments since 2013, and is one of only seven companies in the world included by MasterCard among its Platinum Digital Vendors. The Baker McKenzie team was led by Partner Alberto Fornari with Associate Sara Belotti.
The vendors were assisted by Pedersoli Studio Legale, with Partner Luca Saraceni, and by Studio NegroLex, with Partner Ettore Maria Negro and Associate Chiara Prazzoli.
The deal, which represents Nexi’s first acquisition of a start-up, will allow PayTech to develop the roadmap of payment solutions via smartphone.
Sparkling 18 specializes in offering mobile and omnichannel payment systems, providing its clients with solutions like mobile wallets, multichannel purchase apps and other innovative fintech products for the top brands operating in large-scale distribution, retail, financial services and telecommunications.