Global law firm Baker McKenzie advised Visa Inc. (NYSE: V) on its acquisition of Payworks GmbH, a Munich-based provider of next-generation Point of Sale (POS) payment technology. Visa will bring Payworks’ cloud-based solution for in-store payment processing together with its CyberSource digital payment management platform to create a fully integrated payment acceptance solution for merchants and acquirers, at scale.
An international team of Baker McKenzie lead out of Frankfurt, Germany, and other relevant countries advised on all legal aspects of the transaction.
"The acquisition builds on a strategic partnership and investment Visa made in Payworks in February 2018 and will enable Visa to align more closely with the state-of-the-art technology platform Payworks. We were in the position to advise our longstanding client across borders fluently in order to expedite the negotiations," says Peter Wand, the lead partner for the transaction.
Payworks acts as a gateway technology company to payment providers, delivering solutions that connect the online with the offline payment experience. By combining the CyberSource best in-class eCommerce and mobile payment capabilities with Payworks’s cloud-based architecture, Visa’s merchant and acquirer clients will be able to support face-to-face transactions across a variety of POS terminal types through a single integration.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere.
The global Corporate/M&A team of Baker McKenzie advises on more cross border transactions than any other law firm and on average closes three transactions every business day. Most recently the team advised Toppan Printing Co., Ltd., one of the global leaders in the printing industry, on the acquisition of Germany based Interprint Group.
Legal advisor to Visa Inc: Baker McKenzie
Lead: Corporate/M&A: Dr. Peter Wand (Partner, Frankfurt)
Team: Corporate/M&A: Dr. Björn Simon (Partner, Frankfurt), Anna Ma (Associate, Frankfurt), Eva Maier (Associate, Frankfurt), Jens Rikus (Associate, Frankfurt)
Employment: Dr. Christian Reichel (Partner, Frankfurt), Dr. Lena Kern (Associate, Frankfurt)
Tax: Dr. Stephan Behnes (Partner, Frankfurt), Kai Kramer (Partner, Houston)
IT: Dr. Michaela Nebel (Partner, Frankfurt), Anika Vornwald (Associate, Frankfurt)
IP: Dr. Rembert Niebel (Partner, Frankfurt), Andreas Jauch (Associate, Frankfurt)
Commercial: Dr. Johannes Teichmann (Partner, Frankfurt), Rebecca Romig (Associate, Frankfurt)
Finance: Dr. Oliver Socher (Partner, Frankfurt)
Antitrust: Dr. Christian Horstkotte (Partner, Dusseldorf)
Compliance: Anahita Thoms (Partner, Dusseldorf)
Further lawyers in the Baker McKenzie offices in Poland (Warsaw), UK (London) and USA (Chicago).