Nets Group Acquires Polskie ePłatności
- M&A Deals
- 27.10.2020 11:59 am
The acquisition of the fast-growing Polish merchant acquirer PeP Newsdesk by Nets Group, one of Europe's leading payment providers, is now completed as the transaction has been approved by the relevant authorities. PeP has more than 160,000 point-of-sales terminals and offers a wide range of payment solutions with focus on the SME segment which – adding to earlier acquisitions – further expands and strengthens Nets Group’s presence in Poland.
“Poland is one of the most attractive regions in Europe when it comes to growth within digital payments, and PeP is one of the fastest growing companies there,” says Bo Nilsson, CEO of Nets Group. “With their SME focus and strong presence in the card acceptance and POS terminals space, PeP fits very well with our existing business, extending our portfolio of online payment solutions for merchants in Poland.”
One of the reasons why the conditions for the further expansion of cashless payments in Poland are very good is that the Polish government has introduced several initiatives to promote non-cash use.
Continuity of brand and management
Not only will the brand name and the local operations be retained, PeP's Executive Management will also continue to run the business going forward. The Executive Management Team around the CEO of PeP, Jaroslaw Mikos, has efficiently positioned the company in Poland. This course will be maintained, building on Nets Group's extensive experience to expand cashless payments in other European countries:
“Becoming part of Nets Group, a leading player within digital payments in Europe, holds exciting prospects for us. We want to build on this know-how to the benefit of our customers and their business, and together we want to develop innovative solutions for the needs of the retail sector in Poland,” says Mikos.
PeP employs more than 600 people and expects net sales of around EUR 55 million in 2020.
In recent years, Nets Group has significantly expanded its European presence, having participated in six major strategic transactions since 2017 to provide greater exposure to high-growth regions and capture the continuing shift towards digital payments. Most recently Nets Group strengthened its presence in Switzerland with the acquisition of CCV Schweiz SA shifting its portfolio to a full-service offer. Nets Group has also built a solid platform across Poland with a strong focus on e-commerce, through the acquisition of Dotpay/eCard, a strategic alliance with Przelewy-24, as well as on POS services with the acquisition of PeP.
These acquisitions followed the major merger with the Concardis Payment Group in 2019, building Nets Group’s presence in the DACH region, and the greater strategic focus on Merchant and Issuer Services with the €2.85bn sale of the Group’s account-to-account business to Mastercard. With this expansion Nets Group has significantly increased its exposure to high growth regions and as well to eCommerce, with the latter now comprising approximately 40% of Merchant Services revenue.