HARRISON (dpa-AFX) - Mastercard (MA) has agreed to acquire the majority of the Corporate Services businesses of Nets, a PayTech company, for 2.85 billion euros. The deal includes the clearing and instant payment services, and e-billing solutions of Nets' Corporate Services business. The acquisition is expected to close in the first half of 2020.
Michael Miebach, chief product & innovation officer, Mastercard, said: 'This deal strengthens our unique position as the one-stop partner for any bank, merchant or government's payment needs.'
Mastercard expects the deal to be dilutive for up to 24 months after the transaction closes.
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