NETS acquires 80% of Astute

Monday 25 October 2004 11:27 CET | News

Singapores Network for Electronic Transfers Singapore Pte Ltd (NETS), has acquired an 80 per cent stake in payment technology company Astute Pte Ltd.

The deal is part of NETS strategy to diversify into new business areas, which includes the provision of outsourced services to companies in Singapore and throughout the region. Astutes expertise means that NETS can now add point of sale (POS) terminal management to the card personalisation and transaction processing it already carries out for high-profile banks in Singapore. In addition to NETS and Mr Ng, Astutes shareholders under the new set up include a private investor and SEEDS Capital Pte Ltd (a subsidiary of Singapore Economic Development Board). Moreover, Astute will continue to develop payment solutions and business opportunities with customers throughout Asia.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce