Net Element (NASDAQ: NETE) this morning announced the
acquisition of certain transactional services portfolio (cash flow) assets from
Argus Merchant Services, LLC and Treasury Payments, LLC. The global technology
and value-added solutions group, through its subsidiary Unified Portfolio
Acquisitions, acquired the assets for a total of $1.42 million. The cash flow
assets are anticipated to produce more than $4 million in gross profits over
the next four years, with continued profits to follow. Argus’ total billing
commitment to NETE’s Unified Payments subsidiary is projected to create more
than $19 million in gross margin over the next five years. “The transactional
services portfolio acquisition takes our relationship with Argus and Treasury to
the next level. This acquisition will build real value for the future of our
respective companies,” Vlad Sadovskiy, president of integrated payments for Net
Element stated in the news release. “We are excited to see a significant
commitment from Argus which is expected to add over $19 million in gross margin
to the company over the next 5 years.”
To view the full press release, visit http://ibn.fm/RB55b
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.
About MissionIRNewsBreaks
MissionIRNewsBreaks provide
a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by
our Team of professional journalists that keep a constant eye on the markets,
these posts are designed to inform you on the latest happenings of our clients
and other publicly traded companies on our radar. From earnings, acquisitions
and agreements to conference attendance and clinical study results, our news
breaks keep you up-to-date with the day’s top movers. MissionIR is primarily
focused on strategic communications. We have executed countless communications
programs to address the needs of companies ranging from start-ups to established
industry leaders, gaining valuable experience and the expertise necessary to
determine the most effective strategy for any given situation.
Please see full terms of use and disclaimers on the Mission
Investor Relations website applicable to all content provided by MIR, wherever
published or re-published: http://www.missionir.com/disclaimer.html
