Company announcement No. 21/2017 Nets completes the acquisition of the merchant acquiring business from OP Financial Group in Finland Nets today closed the previously announced agreement to acquire OP's merchant acquiring business (see company ...
| Company announcement |
Nets completes the acquisition of the merchant acquiring business from OP Financial Group in Finland
Nets today closed the previously announced agreement to acquire OP's merchant acquiring business (see company announcement 08/2017).
The business consists of approximately 15,000 merchant contracts with an underlying annual card turnover of around DKK 37 billion from Visa and MasterCard transactions in Finland.
The agreement includes a 10-year strategic partnership with a referral arrangement for merchant acquiring and point-of-sale services covering Finland and the Baltic region. The partnership will provide OP's customers with a wider range of merchant payment solutions, while Nets will benefit from OP's strong brand recognition and distribution to merchants in Finland. The services will be operated under the Nets brand.
As previously announced the total consideration consists of an initial cash payment of DKK 179 million and an expected deferred payment on a discounted basis of around DKK 45 million, dependent on how the acquired business develops over the contract period. The acquisition does not change the guidance for 2017.
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Information on Nets
Nets is a leading provider of digital payment services and related technology solutions across the Nordic region. Nets sits at the centre of the digital payments ecosystem and operates a deeply entrenched network, which connects merchants, corporate customers, financial institutions and consumers enabling them to make and receive payments as well as, increasingly, utilise value-added services to help them improve their respective activities.
This announcement is also made in respect of the EUR 400,000,000 2.875 % senior secured notes due 2024 issued by Nassa Topco AS and admitted for trading on the Global Exchange Market of the Irish Stock Exchange.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nets A/S via Globenewswire
Source(s) : Nets A/S
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