Nordic payments giant Nets has agreed to buy Polskie ePłatności (PeP) in a deal valuing the Polish merchant acquirer at EUR405 million.
With a focus on SME merchants, PeP has an installed base of more than 125,000 point-of-sale terminals. It posted revenues of around EUR55 million in 2020.
Nets says the deal strengthens its position in Poland, an attractive market with low but fast-growing card penetration.
The acquisition rounds out recent moves by Nets in the Polish e-commerce sector through the acquisition of Dotpay/eCard and a strategic alliance with Przelewy24.
Bo Nilsson, CEO, Nets Group, says: "With PeP's strength with SME merchants on card acceptance and point-of-sales terminals, this deal has a convincing strategic fit, completing our offering to merchants in Poland."