The acquisition is done by EML Payments Limited, www.EMLpayments.com, an Australian based provider of prepaid financial services products with operations in Australia, United Kingdom, Europe, the US and Canada. EML is listed on the ASX Australian Securities Exchange and has a market cap of A$ 455 m (approx. SEK 2.900 m).
Retain24 co-founded Presend Nordic in 2010 together with CEO Jon Sederqvist Østmoe. Presend Nordic is a leading provider of gift and prepaid card solutions for shopping malls and city/towns programs in Europe in the Nordic and Baltic regions, UK and Italy.
The first card program was launched in Q4 2012 and Presend have since then grown to be the leading Nordic-Baltic prepaid program provider with excellent connections across the region and with approximately 90 programs currently live.
Claudio Simatovic, CEO and majority owner of Retain24, said “Presend Nordic has made tremendous progress with an impressive growth rate and good profitability. We see a great potential going forward for Presend Nordic and are pleased to have found a strong global partner who can further expand revenues and earnings. And by doing this successfully, Retain24 can focus on its core with additional financial resources for continued investments and expansion.”
Jon Sederqvist Østmoe, Chief Executive Officer of Presend Prepaid Solutions commented that “We sought a strategic partner that understands our specific industry verticals, and that can enhance our product offering. In EML we found a perfect match, combining an entrepreneurial culture with attractive platform capabilities sought after by our clients and prospects. We are very excited to become a part of the EML Group.”
Tom Cregan, Group Chief Executive Officer of EML Limited said, “We are pleased to welcome Jon and his team into the EML team. Jon has been instrumental in getting the business to this point and we jointly believe that Presend being part of EML opens up multiple avenues for growth through access to our expanded product range, which we believe will have strong application in the Nordic and Baltic markets where we previously had little presence.”
EML Payments Limited, ASX listed, is a leading provider of prepaid financial services products including Re-loadable, Non-Reloadable, Virtual and B2B commercial payments. With payment solutions from EML, you will be empowered with more control, transparency and flexibility over your payment processes. With operations in Australia, United Kingdom, Europe, the USA and Canada, we issue mobile, virtual and physical card solutions to some of the largest brands around the world, process billions of dollars in payments each year (A$4.4bn at 30 June 2017) and manage more than 1000 programs. Our combined portfolio offers innovative payment technology solutions for payouts, gifts, incentives and rewards, and B2B virtual payments. Learn more at www.EMLpayments.com
Presend Nordic AB offers simple, secure and flexible scheme-based gift and prepaid cards throughout Europe. Our solutions can be used for gift cards, promotions, insurance claims, travel currency, and in other areas.
Retain24 is the Nordic region's leading Gift Card processor and offers a full-service concept for Branded Currencies that includes electronic gift cards, coupons, loyalty etc. Retailers get a simple, secure and flexible service for loading, redemption, clearing and distribution.
Group Chief Executive Officer and Managing Director
Chief Financial Officer
Presend Nordic AB
Jon Sederqvist Østmoe
Retain24 Sverige AB