Nets dives into Poland with Dotpay/eCard acquisition
Payments giant Nets has acquired Dotpay/eCard, online payment service providers with a strong presence in Poland.
Andrzej Budzik will continue as CEO of Dotpay/eCard and report directly to Asger Hattel, head of merchant services in Nets, and the brands of Dotpay and eCard will remain.
With this acquisition Nets makes its way into Poland, a large growing EU economy with positive e-commerce volumes and cashless payments.
“With this acquisition we extend our geographic presence in Europe, especially within the high growth merchant services area as we now get better access to pursuing opportunities in Poland,” says CEO of Nets, Bo Nilsson.
He adds: “We aim to continue and strengthen this development through both investments into organic growth and potentially also via further consolidation.”
Nets says that Dotpay/eCard complements it very strategically due to its e-commerce presence.
CEO of Dotpay/eCard, Andrzej Budzik, comments: “With our offerings in the e-commerce area we will further strengthen our combined portfolio within merchant services, and we will be able to speed up innovation building on our joint capabilities.”
Dotpay/eCard employ about 100 people and the expected gross revenues for 2018 are €19 million.
The acquisition is subject to approval by the relevant Polish authorities. Closing is expected to be in Q4/2018.
Earlier this month, Nets and Concardis Payment Group revealed that they will merge, but retain their own brands.
The merger will create a business with approximately €500 million of EBITDA and €1.3 billion of net revenue.