GvW Graf von Westphalen has advised CCV Group B.V. (“CCV”), one of the largest service providers and suppliers of payment solutions in Europe on its joint venture with PAX Technology Ltd., subsidiary of the listed PAX Global Technology Limited (Stock Code: 00327.HK; “PAX”). The Berlin based joint venture company, C2P Convenient to Payments GmbH (“C2P”), will focus on the development of new payment technologies, in particular regarding self-service solutions for public transport, filling stations, parking garages and vending machines.
The joint venture combines CCV's experience in developing software and handling financial transactions and PAX’s expertise as a producer of high-quality point-of-sale terminals.
The joint venture will enable both companies not only to get a better access to each other’s geographical and business sector markets, but will also provide access to reciprocal expertise, market knowledge and development and production capacity. The joint venture partners intend to significantly accelerate the development of new payment solutions and to provide innovative solutions to their global customers via C2P. Given the huge potential with regard to the self-service markets, the joint venture will concentrate its efforts towards new solutions catering for self-service markets.
CCV was advised by a team consisting of Felix Wolf (Corporate/M&A, Munich, lead), Dr. Ernst Lindl (Corporate/M&A, Munich), Dr. Ritesh Rajani (Corporate/M&A, Hamburg), Christian Kusulis (Antitrust, Frankfurt), Dr. Joachim Mulch (IP, Düsseldorf) and Stephan Menzemer (IT, Frankfurt).
CCV has offices in the Netherlands, Belgium, Germany and Switzerland, and operates in more than 15 European countries. With more than 200,000 customers, CCV has grown to be one of Europe’s largest payment solutions and loyalty systems providers. The business unit CCV Easy offers solutions for the self-service industry in Europe. Millions of payment transactions for parking, fuelling, public transportation and purchases from vending machines are carried out by CCV every day.