Press release -

EML Limited Acquires PRESEND

EML Limited (ASX: EML), a global leader in shopping center gift cards, reloadable prepaid products and loyalty solutions, has completed its acquisition of Presend Nordic AB, a leading provider of prepaid products to shopping malls and city/town programs in Europe, principally in the Nordic and Baltic region, the UK and Italy.

  • Presend Nordic AB was founded by Retain24 Sverige AB, the leading gift card processor in Scandinavia, and CEO Jon Sederqvist Østmoe. The first card program was launched in Q4 2012 and the business has since achieved strong growth and profitability across Europe.
  • With the acquisition, EML expands its reach from 13 to 19 countries and adds more than 90 shopping center and town card programs to its global portfolio, reinforcing EML’s position as the leading global provider to this segment.
  • Presend expands its service offering with access to the full range of EML products, including reloadable, virtual and mobile products, loyalty solutions, and promotional cards, in addition to enhanced platform features for gift card programs to shopping centers and towns.

Claudio Simatovic, Chief Executive Officer of Retain24 said “Presend Nordic has made tremendous progress with an impressive growth rate and profitability. We see a great potential going forward for Presend Nordic and are pleased to have found a strong global company that can further expand revenues and earnings.”

Jon Sederqvist Østmoe, Chief Executive Officer of Presend Nordic commented that “We are excited to become a part of the EML Group. Presend sought a strategic partner that understands our industry, 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.”

Tom Cregan, Group Chief Executive Officer of EML Limited said, “We are pleased to welcome Jon and his team into the EML team. Jon co-founded the business and has been instrumental in getting it 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.”

About EML

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

About Retain24

Retain24 is the Nordic region's leading Gift Card processor and offers a full-service concept that includes electronic gift cards, coupons, loyalty etc. Retailers get an easy, flexible and secure service for loading, redemption, clearing and distribution.

About Presend

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.

PRESS CONTACTS

EML Limited

Tom Cregan
Group Chief Executive Officer and Managing Director
E: tcregan@emlpayments.com

Bruce Stewart
Chief Financial Officer
E: bstewart@emlpayments.com

Retain24 Sverige AB

Claudio Simatovic
CEO
E: claudio.simatovic@retain24.com

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Subjects

  • Computers, computer technology, software

Tags

  • eml payments
  • presend
  • shopping
  • retail
  • gifts
  • gift card
  • electronic gift card
  • city center

Presend Nordic AB

Jon Sederqvist Østmoe
CEO
E: jon.ostmoe@presend.com 

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