Nets already has a position in the Point of Sale (POS) market in the Nordic region and the acquisition will strengthen Nets' position in the Swedish POS market while bringing a Nordic footprint with potential to service Payzone Nordic's existing customer base more broadly.
Headquartered in Stockholm, Sweden, Payzone Nordic was established in 1989 and pro-cesses over 150 million transactions per year. Operating solely in the integrated payment service provider (PSP) vertical, it is the largest electronic funds transfer network in Sweden. Payzone Nordic generates annual sales of approximately SEK 70 million and employs c. 50 people. Payzone Nordic's CEO, Carl-Greger Leijonhufvud, will remain with the company.
"We're excited to join forces with Payzone Nordic," said Bo Nilsson, CEO of Nets and continued: "We believe that the acquisition will enhance our value offering and geographical reach for customers of both Nets and Payzone Nordic. Sweden as a market and Merchant Solutions as a business area are strategic growth priorities for Nets. The acquisition demonstrates our dedication to this strategy and to create the future of digital values."
Carl-Greger Leijonhufvud, CEO in Payzone Nordic said: "We are thrilled to join Nets and excited about the opportunity to leverage Nets' capabilities and geographic reach to fur-ther grow our business across the Nordic region. Being a part of Nets gives us the opportunity to strengthen our services to our customers and provide them with even better solutions going forward." The transaction was closed on 24 July 2014.
About Payzone Nordic
Payzone Nordic with its 20 year track record of operational excellence in the integrated PSP vertical is a key market player and operates in the hotel, restaurant and retail sectors, currently servicing more than 15,000 Point of Sales. With integration to over 70 ECR providers, Payzone Nordic strives to deliver new innovative services to its customers within the markets were it operates, creating long lasting customer and strategic partner relationships. Payzone Nordic's annual revenue is c. SEK 70 million. Payzone has c. 50 employees in Sweden. Find out more at www.payzone.se
