PTL International, the technology subsidiary of Hili Ventures, has acquired APCO Limited, the Malta-based market leader in automation products and payment solutions.
This is PTL International’s second key acquisition this quarter, following the announcement on July 1 of its purchase of SAD, Poland’s largest retail network of Apple products.
With APCO under its umbrella, PTL International now boasts a knowledge base of more than 400 people, mostly IT professionals, based in seven territories: Malta, Poland, Latvia, Libya and Dubai, and in Hungary and Romania through a joint venture with VJ Salomone. PTL International’s annual turnover will now exceed €100 million.
“APCO represents a significant opportunity for PTL International,” PTL International Chief Executive Officer Kenneth Spiteri said. “It fits our ambition to grow in the value added services field, and also adds payments – a strategic capability – to our overall portfolio. Following the acquisition of SAD, the purchase of APCO is another major step towards consolidating PTL International among Malta’s most diversified IT groups.”
APCO’s major clients include local and international banking organisations, retail operations and internet merchants. Established in 1987 by the Pellicano family, APCO enjoys the expertise of more than a dozen professionals, with a highly specialized skills set. Ian and Robert Pellicano, who steered APCO through significant growth, stay on to lead the team.
APCO’s strategic partners include top names like HSBC, PostBank, B+S Card Services, Verifone Inc., Bank of Valletta, Gemalto SA, Hess Cashsystems GmbH, Wincor Nixdorf International, and Thales e-Security.Its reach extends to the US and South America, Europe, North Africa and the Middle East, and the Far East.
APCO’s structure has two key divisions. APCO Ltd is engaged in equipment sales, maintenance and other services, and provisioning of payment gateway services. APCO Systems Ltd is involved in software development, operational support, and an internal data center operation.
Over the years, APCO has established itself as the go-to provider of payment solutions, offering systems with payment processing for debit, credit cards and other payment platforms, including processing for mail and telephone order. Its hardware and automation solutions offering features ATMs, 24-hour deposit machines, 24-hour currency exchanges, EPOS terminals, plastic cards, and cash-handling equipment.