Ballerup, Denmark, and Eschborn, Germany – 4 June 2018. Nets A/S (“Nets“), a market leader in the Nordic payments industry, and Concardis Payment Group (“Concardis Group“), a leading merchant payment service provider in the German-speaking part of Europe, have today announced at Money 20/20 that the two companies will join forces to form a leading European payments player (the “Group“).
The transaction is a merger structured as a share exchange which will see Concardis shareholders contribute their shares in return for Nets shares. Bo Nilsson will lead the combined Group as CEO. Robert Hoffmann will continue to lead the Concardis Group as CEO, reporting directly to Bo Nilsson. The headquarters of the Group will be located in Ballerup, Denmark, and Nets and Concardis Group will retain their respective brands.
Over the last couple of years, both companies have been actively driving consolidation in their home countries through strategic acquisitions, especially within the high-growth area of merchant services. With the merger, Nets and Concardis Group combine market-leading positions as payment service champions in the Nordics and German-speaking parts of Europe. Both companies offer their customers a broad portfolio of payments services including offline, online, mobile, recurring payments and real-time services.