Source: Global Payments
Global Payments Inc. (NYSE: GPN), a leader in payment processing services, announced today it has reached an agreement to acquire the assets of Diginet d.o.o., an indirect payment processor for both point-of-sale (POS) and ATM transactions based in Sarajevo, Bosnia and Herzegovina.
The transaction is subject to customary regulatory approvals and closing conditions and is expected to be completed during the 2006 calendar year fourth quarter. Diginet will join Global Payments Europe and serve as its Balkan region headquarters.
"We are very excited to acquire this business, its management team and employees," said Petr Sedlacek, CEO of Global Payments Europe. "Through this acquisition, we will continue to serve leading financial institutions in Bosnia and Herzegovina and look to expand our presence throughout the Balkans," added Sedlacek.
President and CEO of Diginet, Mustafa Bektic, said, "As the only independent indirect payment processor in Bosnia and Herzegovina, partnering with Global Payments Europe will allow us to offer a broader array of services to our existing customers, as well as generate new business opportunities utilizing a leading-edge payment processing platform. The payments market in the Balkan region is growing rapidly, and we are pleased that we have found a partner that will help us take advantage of these growth opportunities," added Bektic.
Global Payments does not anticipate this acquisition will have a significant impact on its fiscal 2007 consolidated revenue or earnings per share results, but expects revenue growth and earnings accretion from this transaction over the long term.