Global technology and value-added solutions group Net
Element, Inc. (NASDAQ: NETE) this morning announced that through its Unified Payments subsidiary,
it has acquired cash flow assets totaling $2.7 million via certain
transactional services portfolio from Universal Payment Systems (“UPS”). The
acquired assets are anticipated to produce more than $5 million in gross
profits over the next four years, with continued profits generated
subsequently. “The transactional services portfolio acquisition deepens our
relationship with UPS, which has been very positive for both organizations. By
providing UPS with the capital to grow we are building real value for the
future of both our companies,” Net Element’s president of integrated payments
Vlad Sadovskiy stated in the news release.
To view the full press release, visit http://ibn.fm/6vYjk
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service
transactional and value-added services platform for small to medium enterprise
(“SME”) in the U.S. and selected emerging markets. In the U.S., it aims to grow
transactional revenue by innovating SME productivity services using blockchain
technology solutions and Aptito,
the company’s cloud based, restaurant and retail point-of-sale solution.
Internationally, Net Element’s strategy is to leverage its omni-channel
platform to deliver flexible offerings to emerging markets with diverse
banking, regulatory and demographic conditions. Net Element was ranked as one
of the fastest growing companies in North America on Deloitte’s 2017 Technology
Fast 500™. In 2017, Net Element was recognized by South Florida Business
Journal’s as one of 2016’s fastest growing technology companies. Further
information is available at www.NetElement.com
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