17 Dec EVO Payments Acquires Majority Interest in National Bank of Greece Merchant Acquiring Business
ATLANTA–(BUSINESS WIRE)– EVO Payments, Inc. (NASDAQ: EVOP) (“EVO” or “the Company”), a leading global provider of payment technology integrations and acquiring solutions, announced today that it has entered into a long-term strategic marketing alliance with the National Bank of Greece (“NBG” or “the Bank”) to provide merchant acquiring and payment processing services.
Merchant acquiring joint venture
Under the terms of the agreements, EVO and NBG will form a merchant acquiring joint venture. The Bank will spin off its merchant acquiring business into a new entity, and EVO will acquire a 51% interest in the new entity. This transaction includes a marketing alliance whereby NBG will exclusively refer customers to the joint venture, and EVO will manage the joint venture and provide its market leading card acceptance solutions through its proprietary products and processing platforms. EVO has agreed to pay €158 million, or approximately $180 million, for its ownership interest in the joint venture.
Bringing proprietary solutions to market
“We are very excited to expand our international footprint into Greece by forming a long-term marketing alliance with NBG,” stated James G. Kelly, CEO, EVO. “NBG will be a trusted partner as we bring our proprietary solutions to the market and increase card acceptance. The Bank’s market leading brand recognition and significant customer base will enable us to grow the merchant portfolio as we work together to deliver strong revenue growth.”
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About EVO Payments, Inc.
EVO Payments, Inc. (NASDAQ: EVOP) is a leading payment technology and services provider. EVO offers an array of innovative, reliable, and secure payment solutions to merchants ranging from small and mid-size enterprises to multinational companies and organizations across the globe. As a fully integrated merchant acquirer and payment processor in over 50 markets and 150 currencies worldwide, EVO provides competitive solutions that promote business growth, increase customer loyalty, and enhance data security in the international markets it serves.