Nets Group, Denmark’s payment provider, announced the acquisition of CCV Switzerland, a subsidiary of CCV Group based in the Netherlands. The acquisition is expected to be completed in the coming weeks.
CCV Schweiz is said to have a portfolio of around 34,000 payment terminals and employs around 90 people at three locations in Switzerland.
CCV Schweiz will be integrated with Concardis Schweiz, which is part of Nets Group. As soon as the integration is completed in the coming months, the two companies will operate under the Nets brand.
The acquisition is a step further in Nets Group’s European growth and expansion strategy.
Robert Hoffmann, CEO of Concardis and Nets Merchant Services said,
“Joining forces will take our partnership to the next level, enabling us to support merchants across Switzerland, Germany, and Austria with a strong and competitive alternative offer, and helping to further develop Nets’ pan-European footprint in high growth regions. Strong growth rates in cashless payments, as well as a general openness to innovation and digitisation, make Switzerland an attractive location, which is why we are investing heavily here,”
In recent years, Nets Group has significantly expanded its European presence, having participated in six major strategic transactions since 2017 to provide greater exposure to high-growth regions and capture the continuing shift towards digital payments.
Featured image: edited from Freepik
