NetworkNewsBreaks – Net Element, Inc. (NASDAQ: N
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Posted On: 12/27/2018 5:33:25 PM
NetworkNewsBreaks – Net Element, Inc. (NASDAQ: NETE) Acquires Cash Flow Portfolio from Argus Merchant Services, LLC and Treasury Payments, LLC
Net Element (NASDAQ: NETE) this morning announced the acquisition of certain transactional services portfolio (cash flow) assets from Argus Merchant Services, LLC and Treasury Payments, LLC. The global technology and value-added solutions group, through its subsidiary Unified Portfolio Acquisitions, acquired the assets for a total of $1.42 million. The cash flow assets are anticipated to produce more than $4 million in gross profits over the next four years, with continued profits to follow. Argus’ total billing commitment to NETE’s Unified Payments subsidiary is projected to create more than $19 million in gross margin over the next five years. “The transactional services portfolio acquisition takes our relationship with Argus and Treasury to the next level. This acquisition will build real value for the future of our respective companies,” Vlad Sadovskiy, president of integrated payments for Net Element stated in the news release. “We are excited to see a significant commitment from Argus which is expected to add over $19 million in gross margin to the company over the next 5 years.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Net Element (NASDAQ: NETE) this morning announced the acquisition of certain transactional services portfolio (cash flow) assets from Argus Merchant Services, LLC and Treasury Payments, LLC. The global technology and value-added solutions group, through its subsidiary Unified Portfolio Acquisitions, acquired the assets for a total of $1.42 million. The cash flow assets are anticipated to produce more than $4 million in gross profits over the next four years, with continued profits to follow. Argus’ total billing commitment to NETE’s Unified Payments subsidiary is projected to create more than $19 million in gross margin over the next five years. “The transactional services portfolio acquisition takes our relationship with Argus and Treasury to the next level. This acquisition will build real value for the future of our respective companies,” Vlad Sadovskiy, president of integrated payments for Net Element stated in the news release. “We are excited to see a significant commitment from Argus which is expected to add over $19 million in gross margin to the company over the next 5 years.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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