Danish Nets Acquires Two Finnish Companies


writer icon Elin Westin     ISB   |   Investment     🕐 14. Jan. 2020

​Nets have acquired Finnish software developer Poplatek and payment terminal service provider Poplapay to boost its payment terminal service capabilities.

The Acquisition
The acquisition of both Poplatek and Poplapay is based on the tech competencies of each company, Nets explains in a press release, and writes that this "will further strengthen Nets’ ability to provide best-in-class payment acceptance solutions to merchants across Europe."

Poplatek and Poplapay employ approximately 40 people in total and have a combined annual revenue of around €5 million. The acquisitions were completed on 8 January 2020. Numbers of the acquisition have not been disclosed.

Part of a Larger Plan
A Danish giant in the payments industry, Nets were happy to announce their acquisition of Finnish software developer Poplatek, together with its spin-off company Poplapay that provides payment terminal services in Finland.

The acquisitions are set to strengthen Nets' group-wide payment application capabilities and offerings within payment terminal services.

CEO of Merchant Services at Nets, Robert Hoffmann said: "Our ambition is to become a pan-European payments champion. Poplatek is an agile and high performing tech company, and Poplapay has solid capabilities within payment terminal services."

Hoffman added: "Together, they will help us increase our flexibility to better accommodate different customer needs across Europe and provide best-in-class payment acceptance solutions, also going forward."

Both CEO of Poplapay, Petri Ahti, and CEO of Poplatek, Mikko Virtanen, are excited to start a new joined venture.

Virtanen said on the matter: "Becoming part of a leading pan-European industry player like Nets is very exciting for us."

"We look forward to taking part in the European journey that Nets has embarked on and bringing our skilled teams together to develop solutions for the benefit of merchants across Europe."

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