Net Element, Inc. (NETE) Active in its Pursuit to Become Premier Mobile Payments and Transactional Services Provider
It’s been a busy week for technology innovator Net Element as the company issued a shareholder update, inclusive of the company’s recent financing of at least $10.5 million to sustain further expansion initiatives, as well news that its pending acquisition target has signed a contract to process transactions for several international dating networks.
Net Element leverages its core technology innovations and operational business partners to provide mobile payments and value-added transactional services in emerging countries and in the United States. To this accord, the company is continuously seeking out growth opportunities.
In its recent news release, Net Element defined its primary goal for the second half of 2015 as integrating PayOnline’s value-added technologies with Net Element’s current U.S. offerings to solidify its foothold as a premier payments-as-a-service company with a centralized, omni-channel global platform.
Upon closing of the acquisition, Net Element will be able to sell its mobile payment services to PayOnline’s more than 10 million active consumers and thousands of merchants in the Russian Federation, Europe and Asia.
“The acquisition of PayOnline will be transformative for the Company not only as a profitable acquisition but for the cutting edge payments tools it provides such as its recently announced availability of an online transactional platform for iOS apps (iPhone and iPad),” Net Element said in the news release.
PayOnline’s recent three-year contract centers on a minimum processing commitment of $300 million in transactions for social networks AnastasiaDate, AmoLatina and AsianDate, among others. Net Element currently manages, operates and is in the process of integrating the PayOnline group of companies pending closing of Net Element’s acquisition of the company.
The acquisition will add to Net Element’s current portfolio of subsidiaries, which include TOT Group, Inc., a global mobile payments and transaction processing provider whose companies include Unified Payments, Aptito and TOT Money, and emphasizes Net Element’s ability to facilitate cross-border transactions through a single interface.
“This contract win demonstrates our ability to quickly derive value from strategic acquisitions and partnerships,” Net Element CEO Oleg Firer stated in the news release. “As we emerge from a period of financial and business restructuring, we plan to see more such value driving developments as we progress into our growth phase.”
The financial restructuring mentioned by Firer, along with other achievements and the pending acquisition of PayOnline, triggered a reiterated 12-month price target of $5.17 per share by SeeThruEquity.
“Net Element has achieved several important developments since our last update in March 2015. Most importantly, Net Element made substantial progress shedding cumbersome debt on its balance sheet and announced a new $24.5mn capital raise. While improving its financial position, the company also reported double-digit annual growth in both 1Q15 and fiscal 2014 results and announced several growth initiatives for 2015 and beyond. The company also announced that it had executed definitive documentation for the acquisition of PayOnline, a leader in online transaction processing services and payment technology with over 10mn active consumers and thousands of merchants in the Russian Federation, Europe and Asia. We are reiterating our 12 month price target on NETE of $5.17 per share,” stated SeeThruEquity CEO Ajay Tandon.
Net Element is quick on its feet in taking advantage of opportunities that add momentum to grow revenues, by attracting more merchants to its payments platform, contributing to its overarching mission to become a competitive leader in mobile payments and transactional services in target countries and the United States.
For more information visit www.netelementinc.com
Please read full disclaimers at http://disclaimer.missionir.com
It’s been a busy week for technology innovator Net Element as the company issued a shareholder update, inclusive of the company’s recent financing of at least $10.5 million to sustain further expansion initiatives, as well news that its pending acquisition target has signed a contract to process transactions for several international dating networks.
Net Element leverages its core technology innovations and operational business partners to provide mobile payments and value-added transactional services in emerging countries and in the United States. To this accord, the company is continuously seeking out growth opportunities.
In its recent news release, Net Element defined its primary goal for the second half of 2015 as integrating PayOnline’s value-added technologies with Net Element’s current U.S. offerings to solidify its foothold as a premier payments-as-a-service company with a centralized, omni-channel global platform.
Upon closing of the acquisition, Net Element will be able to sell its mobile payment services to PayOnline’s more than 10 million active consumers and thousands of merchants in the Russian Federation, Europe and Asia.
“The acquisition of PayOnline will be transformative for the Company not only as a profitable acquisition but for the cutting edge payments tools it provides such as its recently announced availability of an online transactional platform for iOS apps (iPhone and iPad),” Net Element said in the news release.
PayOnline’s recent three-year contract centers on a minimum processing commitment of $300 million in transactions for social networks AnastasiaDate, AmoLatina and AsianDate, among others. Net Element currently manages, operates and is in the process of integrating the PayOnline group of companies pending closing of Net Element’s acquisition of the company.
The acquisition will add to Net Element’s current portfolio of subsidiaries, which include TOT Group, Inc., a global mobile payments and transaction processing provider whose companies include Unified Payments, Aptito and TOT Money, and emphasizes Net Element’s ability to facilitate cross-border transactions through a single interface.
“This contract win demonstrates our ability to quickly derive value from strategic acquisitions and partnerships,” Net Element CEO Oleg Firer stated in the news release. “As we emerge from a period of financial and business restructuring, we plan to see more such value driving developments as we progress into our growth phase.”
The financial restructuring mentioned by Firer, along with other achievements and the pending acquisition of PayOnline, triggered a reiterated 12-month price target of $5.17 per share by SeeThruEquity.
“Net Element has achieved several important developments since our last update in March 2015. Most importantly, Net Element made substantial progress shedding cumbersome debt on its balance sheet and announced a new $24.5mn capital raise. While improving its financial position, the company also reported double-digit annual growth in both 1Q15 and fiscal 2014 results and announced several growth initiatives for 2015 and beyond. The company also announced that it had executed definitive documentation for the acquisition of PayOnline, a leader in online transaction processing services and payment technology with over 10mn active consumers and thousands of merchants in the Russian Federation, Europe and Asia. We are reiterating our 12 month price target on NETE of $5.17 per share,” stated SeeThruEquity CEO Ajay Tandon.
Net Element is quick on its feet in taking advantage of opportunities that add momentum to grow revenues, by attracting more merchants to its payments platform, contributing to its overarching mission to become a competitive leader in mobile payments and transactional services in target countries and the United States.
For more information visit www.netelementinc.com
Please read full disclaimers at http://disclaimer.missionir.com
