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Nets acquires Nordea Merchant Acquiring

Nordea has signed an agreement to divest its merchant acquiring business Nordea Merchant Acquiring (NMA) to Nets Holding (Nets).

The sale of the NMA business and the establishment of a partnership with Nets will

Nets logo

Nets acquires Nordea Merchant Acquiring

secure a long-term Merchant Acquiring offering to our corporate customers on competitive terms.

A changing regulatory environment and fast-paced technological development in the sector require both larger scale and substantial investments from providers of merchant acquiring services. Nets has the requisite scale and will bring technological capabilities and the ability to make necessary investments in the business going forward, says Lennart Jacobsen, Head of Retail Banking.

The business is sold for a price of €230 million on an enterprise value basis. Nordea’s capital gain after tax on the transaction will be approximately €175 million to be recognised under Other operating income upon closing of the transaction.

Given Nordic Merchant’s connection to the Nordic and Baltic regions, its acquisition is part of Nets’ strategy to become the first choice for payments in the Nordic and Baltic regions.

“The combined businesses of Nordea Merchant Acquiring and Nets fits perfectly into Nets’ strategy following the rapid evolvement of the payment market,” said  Asger Hattel, Group executive vice president, Merchant Services, Nets.

The acquisition is set to be completed during the fourth quarter of 2015, subject to relevant authority approval and obtainment of the relevant permits.

“We are very pleased to announce that Nets has signed a deal to acquire Nordea Merchant Acquiring. The acquisition enhances Nets’ ability to deliver first-class integrated acquiring services to a total of approx. 240,000 merchants across the Nordic and Baltic region,” continued Asger Hattel.

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