Paksoy has advised Iyzico on the acquisition of Paynet from Arena Bilgisayar. Baker McKenzie Turkish affiliate Esin Attorney Partnership advised the sellers.
The transaction remains contingent on regulatory approval.
Iyzico operates in the Turkish financial technology sector and online payment services and uses artificial intelligence-based payment technologies. Paynet is a payment services company.
According to Paksoy, "Iyzico, by integrating Paynet's expertise, technology, and customer base into its own system once the transaction is completed, will deliver an even more comprehensive service set with the inclusion of B2B payments and collections solutions offered by Paynet."
Back in 2019, Paksoy advised on PayU's acquisition of Iyzico (as reported by CEE Legal Matters on June 27, 2019).
The Paksoy team included Partner Serdar Ildirar, Senior Associate Melisa Sevinc Atilganer, and Associate Sibel Postacioglu.
The Esin Attorney Partnership team included Partner Orcun Solak, Senior Associate Mehmetcan Atasoy, and Associates Fatma Bingol and Kaan Karagol.
