easycash, the network solutions provider and 100% subsidiary of GZS Group, will be sold by First Data. The Federal Cartel Office approved the GZS acquisition on this condition, as First Data already owns TeleCash, a strong supplier of network solutions in Germany. The acquisition of GZS adds an important element to First Data’s growth strategy in Europe. In 2005, First Data acquired the Vienna-based Austrian Payment Systems Services (APSS) and made other important acquisitions in the fast-growing Eastern European markets. Through these acquisitions, First Data has built a strong European network of processing and competence centres that enables the company to support the card-based businesses of its increasingly international banking and retail clients. The acquisition of GZS enables First Data, as a truly pan-European service provider, to support banks in meeting the preconditions of a Single European Payments Area (SEPA), as stipulated by the European Commission. David Yates, president, Europe, Middle East and Africa, First Data International said: „“We are very pleased to complete the acquisition of GZS, and to strengthen our position in the important German market. We are convinced that the German cards market offers significant growth potential. Through this acquisition, our German clients gain access to a sophisticated, international product portfolio that will help them to further improve their competitiveness — and this will become increasingly important as the introduction of SEPA boosts and accelerates structural changes within the electronic payment services industry.““ Bernd M. Fieseler, previous chairman of the GZS supervisory board and executive member of the management board of the Deutschen Sparkassen- und Giroverbandes (DSGV), said: „“With the sale to First Data we have created a solid shareholder structure for GZS. The clients of GZS in particular will benefit from the combined know-how of the new company. At the same time, First Data’s German operations will play a strong role in international developments.““ cara.taylor@firstdatacorp.com www.firstdata.com