| Company announcement No. 23/2017 |
Nets has purchased the remaining shares in Paytrail Oy
Nets has purchased the remaining 20% shares in Paytrail Oy for a cash consideration of DKK 58 million. In December 2014, Nets acquired 80% of the shares in Paytrail with an option to acquire the remaining shares from the founders and key employees in July 2017 based on the performance of the business.
Asger Hattel, Executive Vice President, Head of Merchant Services in Nets says "We've been developing Paytrail in a partnership with the founders since late 2014, and I'm delighted to look back at the excellent development of this company and contribution to Nets' eCommerce business. Paytrail has strengthened our ability to support Finnish merchants as well as supporting Nets in developing new propositions."
Financial impact The share purchase is funded by Nets' own cash and existing credit facilities and the purchase of the remaining shares in Paytrail does not change the guidance for 2017.
About Paytrail Paytrail is a licensed payment institution established in 2007 under the name "Suomen verkkomaksut". The company employs around 40 professionals and is headquartered in Jyväskylä, Finland and supports more than 10,000 webshops. Since its inception, Paytrail has processed transactions worth more than DKK 15bn. Find out more at www.paytrail.com
For further information, please contact:
For media enquiries: Karsten Anker Petersen, Head of Communications, at +45 29 48 78 83 or kapet@nets.eu
For investor enquiries: Lars Oestmoe, Head of M&A and IR, at +47 91 34 71 77 or lostm@nets.eu
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.
