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Nets to purchase Nordea merchant acquiring

Monday 15 June 2015 | 12:12 PM CET

Nets, a company which specialises in managing digital values through the delivery of strategic consulting and IT solutions, has signed a deal to acquire Nordea Merchant Acquiring.

Nordea Merchant Acquiring is the section of Nordic financial services group Nordea’s payment business dealing with acquiring of international payment cards in the Nordic and Baltic regions. The acquisition, valued at EUR 230 million on an enterprise value basis, will enable Nets to deliver integrated acquiring services to Nets’ customers across the Nordic and the Baltic region. Nets acquiring, operating under the Teller brand, provides financial acquiring of international payment cards for the most widely used payment cards, such as Visa, MasterCard, American Express, JCB and UnionPay. Nets operates in more than 20 countries through cross-border activities.

The transaction is expected to close during the fourth quarter of 2015, subject to approval by the relevant authorities and obtaining necessary permits. Going forward Nordea Merchant Acquiring, including approx. 40 Nordea employees, will be part of the Nets Merchant Services business unit.

Nets specialises in managing what it terms “digital values” through the delivery of strategic consulting and IT solutions. Nets has 2,550 employees in Denmark, Norway, Finland, Sweden, Estonia and Latvia.

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