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Euronet (EEFT) Buys Pure Commerce

January 8, 2013 5:09 PM EST Send to a Friend
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Euronet Worldwide, Inc. (Nasdaq: EEFT), a leading global electronic payments provider and distributor, today announced the acquisition of Pure Commerce, a fast-growing provider of cloud-based financial and payment solutions to banks, acquirers and global retailers around the world. Pure Commerce is headquartered in Sydney, Australia, and provides a range of currency conversion payment and multi-currency acquiring services for point-of-sale terminals, online applications and ATMs in high foreign card volume locations primarily across Asia Pacific and Europe.

This acquisition allows Euronet to offer industry leading currency conversion and multi-currency acquiring products to global, local and online merchant acquirers, banks and retailers, and also extends Euronet's operating markets. Pure Commerce has developed patented, best-in-class point-of-sale processes and displays that provide consumers with more convenient, transparent transactions. Its product portfolio also increases retailer earnings potential through multi-currency sales capabilities for both over-the-counter and online sales. Pure Commerce customers include leading international banks, merchant acquirers and global merchants. Certain of these global merchants specialize in retail sales in duty free shops, offering brands such as Louis Vuitton, Prada, Hugo Boss and Chanel, among many others.

Euronet expects the acquisition to contribute approximately three to four cents to Euronet's annual cash earnings per share in 2013.




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