Following completion of the deal, the acquired firm will be rebranded to trade as a fully-integrated part of the Nets Group and will continue to operate from its old offices in Helsinki.
The combined entity, which will have 2,700 employees and an annual turnover of DKK6.4bn ($1.1bn), is part of Nets’ strategy to achieve a leading position among European businesses in the field of payment, information and security solutions.
Luottokunta CEO Heikki Kapanen will continue as senior country executive for Finland and head of the merchant solutions business unit, providing payment terminals and payment systems for e-commerce and mobile commerce.
With 500 employees, Luottokunta had a turnover of DKK840m ($144m) as of end 2011.
