- NETE
subsidiary United Payments acquires cash flow assets totaling $2.7 million
- Recent
financial performance shows that NETE increased revenues in Q1 2018 by
17.85 percent
- One-stop
omni-channel processing solution with 100-plus payment solutions
- Global
business-to-business sales estimated at $7.7 trillion, compared to $2.3
trillion business-to-consumer market
Net Element, Inc. (NASDAQ: NETE) expects a recent
acquisition, purchased through subsidiary Unified Payments, to generate well
over $5 million in gross profits over the next four years, with recurring
profits expected to continue to enhance the company’s profit margins, the
company stated in a news release (http://ibn.fm/0o3wM). As a global financial technology
and value-added solutions group that supports electronic payments acceptance in
an omni-channel environment spanning across point-of-sale, e-commerce and
mobile devices, Net Element continues to challenge the status quo by delivering
flexible offerings to emerging markets with diverse banking, regulatory and
demographic conditions.
Net Element’s all-in-one payment solutions support a wide
range of applications through a single, robust platform designed to help small-
and medium-sized businesses around the world succeed and prosper (http://ibn.fm/Qcjyz). The
company’s ability to select and build collaborative and mutually beneficial
partnerships is nicely illustrated in its recent acquisition of certain
transactional services portfolio (cash flow assets) for $2.7 million from
Universal Payment Systems (“UPS”).
“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,” Vlad Sadovskiy,
president of integrated payments for Net Element, stated in the news
release.
“Net Element has always stayed true to their
word. They have been supportive and committed to our success over the
years and this has helped us grow our business significantly. We are
excited to expand our partnership with Net Element,” added Anthony
Kutscher Jr., president of Universal Payment Solutions. “This transaction will
fuel our continued growth for years to come.”
A new independent research report detailing key market
demands for NETE products and services notes that the company’s recent
financial performance continues to improve. In the report, issued by
Fundamental Markets, Net Element’s reported revenue for the first quarter of
2018 increased by 17.85 percent, coming in at $15.98 million versus $13.56
million over the same period last year. The report, titled “Market Trends
Toward New Normal in Net Element, Sysco, Maximus, Axis Capital, Nuance
Communications, and ProPetro Holding — Emerging Consolidated Expectations,
Analyst Ratings” is accessible by registration (http://ibn.fm/ldT5X). Net
Element is expected to report earnings on August 13, 2018, for the fiscal
period ended June 30, 2018.
For more information, visit the company’s website at www.NetElement.com
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