Nets, a Danish payment services firm, has agreed to acquire Polish online payment firms Dotpay/eCard from private equity firm MCI Capital in a deal worth €73m.
Dotpay/eCard has around 100 employees in Warsaw and Cracow to service over 30,000 merchants.
Nets said that both the parties will gain increased industrial scale and synergies through the acquisition.
Nets CEO Bo Nilsson said: “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.
“Dotpay/eCard have performed very strongly in recent years achieving solid volume and revenue growth. We aim to continue and strengthen this development through both investments into organic growth and potentially also via further consolidation.”
Dotpay and eCard will retain their brands following the completion of the acquisition, which is expected in the fourth quarter of this year. The deal is pending regulatory approval.
Dotpay/eCard CEO Andrzej Budzik said: “With our offerings in the eCommerce area we will further strengthen our combined portfolio within merchant services, and, as part of the Nets Group, we will be able to speed up innovation building on our joint capabilities to the benefit of merchants and consumers.”
Budzik will continue to lead Dotpay/eCard as CEO and will report to Nets head of merchant services Asger Hattel.
Earlier this month, Nets announced merger of its operations with German peer Concardis Payment Group.