Nets has announced its acquisition of Polskie ePłatności ("PeP"), a Polish merchant acquirer with an installed base of more than 125 000 point-of-sales terminals, offering a broad set of payment solutions for SME merchants.
The transaction values PeP's Enterprise Value at EUR 405 million.
A Presence in Poland
With this acquisition, Nets further strengthens its presence in Poland.
Poland is one of the most attractive geographies in Europe given its low card penetration and double-digit growth in card usage, driven by the conversion from cash to card payments.
This development is further supported by state initiatives promoting in-store electronic payment solutions.
The Acquisition of PeP
Bo Nilsson, CEO of the Nets Group, said: "PeP is the fastest growing payment technology company in one of the fastest growing digital payment economies in Europe, and we have been impressed by the PeP-team, their high-quality in-house operation and business performance."
"This acquisition follows our recent acquisition of Dotpay/eCard and the strategic alliance with Przelewy24, both of which are strong in e-commerce. With PeP's strength with SME merchants on card acceptance and point-of-sales terminals, this deal has a convincing strategic fit, completing our offering to merchants in Poland," Nilsson added.
Jaroslaw Mikos, CEO of PeP, comments: "We are excited to become part of a leading European player like the Nets Group. It will support our strong growth trajectory by strengthening our offerings across the merchant service value chain. Together, we can use our combined local capabilities and experience for the benefit of our customers."
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