Nets and Concardis Payment Group join forces for further Europe expansion

Tuesday 5 June 2018 08:08 CET | News

Nets and Concardis Group have announced at Money 20/20 that they will join forces to form a leading European payments player. 

The transaction is a merger structured as a share exchange which will see Concardis shareholders contribute their shares in return for Nets shares. Bo Nilsson will lead the combined Group as CEO. Robert Hoffmann will continue to lead the Concardis Group as CEO, reporting directly to Bo Nilsson. The headquarters of the Group will be located in Ballerup, Denmark, and Nets and Concardis Group will retain their respective brands. 

Over the last couple of years, both companies have been actively driving consolidation in their home markets through strategic acquisitions, especially within the high-growth area of merchant services. With the merger, Nets and Concardis Group combine market-leading positions as payment service providers in the Nordics and German-speaking parts of Europe. 

Both companies offer their customers a broad portfolio of payments services including offline, online, mobile, recurring payments and real-time services.

The newly-formed Group will further refine its service offering, bringing innovation to market faster, empowering merchants and better meeting consumers’ needs for more digitized, easy-to-use payment solutions. 

The merger is subject to approval by the respective authorities. Closing is expected to be in Q4 2018.

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Keywords: Nets, ConCardis, Nets Concardis merger, online payments, payments consolidation, payments service provider Europe
Countries: World