PAYONE acquired by Deutscher Sparkassenverlag
A new challenger in the European payment services space.
Berlin, 19 December 2014 - GP Bullhound, the international technology investment bank, acted as the exclusive financial advisor to PAYONE (“PAYONE”) on the sale of a majority stake to Deutscher Sparkassenverlag (“DSV”).

PAYONE is a leading independent payment service provider and offers its customers an integrated platform that provides a fully automated and seamless payment process.

With the acquisition of PAYONE, DSV makes a landmark transaction to enter the payment solutions market and generates valuable synergies by completing its product offering as well as granting PAYONE access to a comprehensive, loyal and growing customer base within the DSV network and the German savings banks.

The involvement of the founders, not only as General Managers of PAYONE, but also as minority shareholders, demonstrates the joint commitment to develop PAYONE as an integral part of DSV.

Carl Frederic Zitscher, co-founder, General Manager and shareholder of PAYONE, said: “I expect the partnership with DSV to provide strong momentum regarding new customer wins as we can leverage the distribution network of the German savings banks.“

“GP Bullhound’s expertise, negotiation and deal strategy have proven very useful in driving the transaction and negotiating the best deal. The negotiated structure allows us to participate in the long-term value creation,” commented Carl Frederic Zitscher.

Julian Riedlbauer, Partner at GP Bullhound and head of its Berlin office stated: “It has been a pleasure to advise PAYONE and its shareholders on this marquee transaction in the European payment services space and we are glad to have achieved a result that fully satisfies the founders.”

This represents the completion of GP Bullhound’s 30th transaction in 2014 and further highlights the firm’s commitment to working with category leaders.

For enquiries please contact Julian Riedlbauer, Partner: [email protected]

GP Bullhound
As dealmakers in technology, GP Bullhound provides independent strategic advice on mergers and acquisitions and private placements to entrepreneurs, companies and investors. By combining a true passion for innovation with great access to global buyers and capital across Europe, US and Asia, GP Bullhound has completed transactions with many category leaders including Avito, Delivery Hero, Fjord,, Pingdom, Pozitron and Spotify.
The firm was founded in London in 1999 and today also has offices in San Francisco, Stockholm, Berlin and Manchester. For more information, please visit

PAYONE is one of the leading independent payment service providers in Europe. A unique platform allows PAYONE to offer its customers a fully automated and integrated management solution for payment processes in eCommerce. The range of services includes payment processing of more than 30 national and international payment methods as well as complementary modules for receivables management, billing and subscription settlement. A standardised interface and software development kit provide easy integration into existing system environments, while module extensions allow easy combination with predominant eCommerce systems such as Magento, OXID eSales, Demandware, Shopware, plentymarkets, etc. Founded in 2002, the company has around 100 employees which serve more than 2,500 eCommerce customers, including Immonet, Globetrotter, HD PLUS, Fujitsu, Zalando, Hawesko, Sony Music und Hallhuber. For more information please visit

Deutscher Sparkassenverlag

The DSV Group comprises the Deutscher Sparkassenverlag, its subsidiaries and affiliates and generated revenues of EUR 837 million in 2013 with its current 1,800 employees. Being the specialist solutions provider for the group including the entire German savings banks (Sparkasse) network, DSV offers comprehensive media content in analogue as well as digital format. The offerings comprise social media campaigns, solutions for mobile devices, as well as content for online publishing periodicals and traditional media such as books, guides, professional and consumer magazines as well as educational formats. Electronic forms and support systems, technical equipment and bank cards complement the offerings. The product portfolio furthermore includes IT and payment services, internet as well as full-service agency services including full-service communication concepts and PR events. For more Information please visit: http://