Global technology and value-added solutions group Net
Element, Inc. (NASDAQ: NETE) this morning announced that through its Unified Payments subsidiary,
it has acquired cash flow assets totaling $2.7 million via certain
transactional services portfolio from Universal Payment Systems (“UPS”). The
acquired assets are anticipated to produce more than $5 million in gross
profits over the next four years, with continued profits generated
subsequently. “The transactional services portfolio acquisition deepens our
relationship with UPS, which has been very positive for both organizations. By
providing UPS with the capital to grow we are building real value for the
future of both our companies,” Net Element’s president of integrated payments
Vlad Sadovskiy stated in the news release.
To view the full press release, visit http://ibn.fm/6vYjk
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a
payments-as-a-service transactional and value-added services platform for small
to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the
U.S., it aims to grow transactional revenue by innovating SME productivity
services using blockchain technology solutions and Aptito, the company’s cloud
based, restaurant and retail point-of-sale solution. Internationally, Net
Element’s strategy is to leverage its omni-channel platform to deliver flexible
offerings to emerging markets with diverse banking, regulatory and demographic
conditions. Net Element was ranked as one of the fastest growing companies in North
America on Deloitte’s 2017 Technology Fast 500™. In 2017, Net Element was
recognized by South Florida Business Journal’s as one of 2016’s fastest growing
technology companies. Further information is available at www.NetElement.com
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