PayNet, which has 44 employees, operates 720 ATMs and 1,700 POS terminals, and processes 15 million card transactions annually.
The PayNet acquisition is expected generate revenues of $3m in the initial year of ownership together with accretive cash earnings per share of approximately one cent per share, said Euronet.
Euronet Worldwide president Kevin Caponecchi said that the acquisition will nicely complement their growing European business through the addition of approximately a dozen new bank relationships currently processing a range of outsourcing services similar to those they currently provide.
Euronet’s global payment network includes 12,668 ATMs, 53,000 EFT POS terminals and a portfolio of outsourced debit and credit card services which are under management in 32 countries.
