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Net 1 acquires BGS

Net 1 UEPS Technologies, the company behind the UEPS system for emerging market payment systems, is to acquire 80.1% of BGS Smartcard Systems for €71.5 million in cash. Sberbank, which owns 19.9% of BGS, will retain its shareholding. Johannesburg-based and Nasdaq-listed Net 1 reported revenues of $254 million for its year to June 30 and [...]

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