Nets’ chief executive Bo Nilsson
Two of Europe’s largest payments businesses, Nets and Concardis, to merge in a multi-billion pound deal
After a flurry of private equity interest in the sector, two of Europe’s largest payments businesses – Nets and Concardis – are to merge in a multi-billion pound deal.
The two companies announced today at the fintech conference Money 20/20 that Concardis would merge with Nets, to form a company with €1.3bn (£1.1bn) of annual net revenue.

Private equity giants Advent and Bain, who own Germany-based Concardis, will swap their holdings in Concardis for Nets shares. Their peer Hellman & Friedman, which backs the Scandinavia-headquartered Nets, will see its holding diluted.

“We want to shape the ongoing consolidation in the European payments industry and

further drive our pan-European expansion,” said Nets’ chief executive Bo Nilsson.

“Germany offers attractive growth potential due to market size, consumer spending and the fact that around 75 per cent of all payment transactions are still cash-based.”

Nilsson will lead the combined group, while Robert Hoffman will continue at the helm of Concardis reporting directly to him. The two firms will retain their respective brands.

Advent and Bain formerly owned Nets as well as Concardis, before floating the business in 2016. Hellman & Friedman took it private again earlier this year, though Advent and Bain remained minority investors which likely helped to usher the merger through.
Read More

Lucy White
City A.M.
Monday 4 June 2018 2:12pm

FROM THE WEB


Mastercard is looking to integrate its payment tech into Google and Amazon voice assistants
CNBC
04 June, 2018


Visa says card payments back to normal
BBC News
2 June 2018


Visa Network Crash Hits Customers And Retailers
Sky News
01 June, 2018


Pine Labs Raises $125 Mn From PayPal, Temasek To Build ‘World Class’ POS Payments Platform
Inc42
May 31, 2018


Apple Pay tests ‘order ahead’ for drinks at music festivals
TechCrunch
01 June, 2018


Modi launches three Indian payment apps in Singapore
Launches BHIM, RuPay and SBI app
The Hindu BusinessLine
SINGAPORE, MAY 31

FROM THE TUBE


CHINA IS BEYOND CASHLESS
Mamahuhu
Published on May 27, 2018


Jack Dorsey: Facts About The CEO Of Twitter And Square | CNBC
CNBC
Published on May 21, 2018


Jack Ma Inspirational Dialogue with Tel Aviv University Students
TAUVOD
Published on May 6, 2018


PayPal CEO & Jim Cramer Talk China, Diversity, Alexa and More!
TheStreet: Investing Strategies
Published on May 7, 2018


Wells Fargo Reimagines Mobile Experience with ‘Pay with Wells Fargo’
Wells Fargo
Published on May 10, 2018


Counting the cost of going cashless
Financial Times
Published on May 10, 2018

Editors’s Picks