Nets and Nexi announce potential agreement in terms of a merger

By Megha Bhattacharya

European payment solutions provider, Nets and Nexi have teamed up in exclusive negotiations to reach a potential binding agreement on the terms of a merger. The agreement will establish a pan European PayTech provider. The transaction remains subject to reaching a binding agreement during the 10-day exclusivity period, as well as all necessary corporate and regulatory approvals.

Nets stated that “The potential combination would create the leading European player in the digital payments landscape, with unparalleled scale, technology, capabilities and product portfolio, to serve as a “one-stop-shop” to a wide range of customers.” The combined company is also expected to benefit from an expanded footprint, broader product and services portfolio along with exposure to eCommerce and lower customer concentration.

Recently, Nets Group announced the acquisition of CCV Schweiz SA, a subsidiary of CCV Group based in the Netherlands. The company stated that the acquisition is expected to further its European growth and expansion strategy. Nets aims to introduce advanced payments solutions to regions with high growth potential. CCV Schweiz SA will be integrated with Concardis Schweiz AG, which is part of Nets Group.

IBS Intelligence previously reported that Italian PayTech Nexi and SIA signed a memorandum of understanding (MoU) in a bid to integrate the two groups through the merger by incorporation of SIA into Nexi.