SIA on Friday announced it was purchasing First Data's card processing activities in Central and Southeastern Europe for 375 million euros.

The purchase covers card processing, production, call centre services and back office - activities that include 13.3 million payment cards, 1.4 billion transactions and the management of POS and ATM terminals in Greece, Croatia, Czech Republic, Hungary, Romania, Serbia and Slovakia.

After completion of the transaction, SIA will become the top player in the region in processing and payment services. The agreement is expected to be completed in the third quarter of 2018.