Net Element Expands its Mobile Payments Business to 39 More Countries
Net Element Expands its Mobile Payments Business to 39 More Countries
As part of its international expansion strategy, Net Element expands TOT's mobile connectivity reach for mobile messaging and mobile payments across additional emerging countries
MIAMI--(BUSINESS WIRE)-- Net Element International
The global proliferation of mobile networks and phones has created an opportunity for TOT to make mobile transactions cost effective and to provide a wide range of transactional services in emerging countries. Leading research estimates the value of mobile money transactions by 2015 to exceed $215 billion. (Source: Berg Insight)
"Mobile payments have arrived and are without question disrupting the way commerce is done globally," said Net Element International Chairman Kenges Rakishev. "Our strategy involves the expansion of TOT's mobile messaging and mobile payments operations across emerging markets. We look forward to collaborating closely with NTH Group and leveraging their global connectivity infrastructure to expand beyond our currently served markets."
NTH Group is a leading AISP (Application and Infrastructure Service Provider) in European markets for interactive telecom and media services with an extensive coverage map with premium mobile and voice connectivity in more than 70 countries worldwide.
"NTH Group's proven expertise and strong connectivity coverage in emerging countries made our decision to partner with them to expand our offering across additional countries an easy one," said Tim Greenfield, president of mobile commerce & payment processing of Net Element International. "We're excited to offer our clients and distribution partners the opportunity to leverage NTH Group's coverage spanning 70 plus countries as a way to maximize their monetization opportunities, expand customer reach and ultimately increase their revenue streams."
Earlier this month, Net Element International announced its proposed acquisition of Unified Payments, an award winning provider of payment processing services recognized by Inc. Magazine as the Fastest-Growing Private Company in the U.S. in 2012. This acquisition is expected to position and diversify Net Element International's TOT Money business and expand its global presence in the payments market. When the acquisition has been completed, Net Element International plans to aggressively begin deploying Unified Payments' products and services in Russia and other emerging markets, while Unified Payments provides a strong foundation of recurring revenues in the U.S.
About Net Element International
Net Element International (NAS: NETE) is a global technology-driven group specializing in electronic commerce and mobile payments. The company owns and operates a mobile payments company, TOT Money, as well as several popular content monetization verticals. Together with its subsidiaries, Net Element International enables ecommerce and content-management companies to monetize their assets in ecommerce and mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the company for continued growth. The company has U.S. headquarters in Miami and international headquarters in Moscow. More information is available at www.netelement.com
About NTH Group
NTH Group is a leading European AISP (Application and Infrastructure Service Provider) for media and telecom services. Main activities include development, provision, operation and maintenance of platforms, solutions and services based on SMS, MMS, Voice, Internet and Media broadcast technologies. NTH Group provides premium voice and mobile connectivity in more than 70 countries worldwide. Our product range includes numerous in-house developed tools, applications and platforms for state-of-the-art services. NTH Group works in our own development, operation and content centers to develop innovative solutions for our customers and partners, integrate content and ensure that processes run smoothly 24 hours, 365 days a year. With headquarters in Switzerland and 11 subsidiaries worldwide, NTH Group today employs more than 250 specialists. More information is available at www.nth.ch
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements.Words such as "possible," "potential," "proposed," "will," "may," "could," "should," "expect," "expected," "contemplated," "plans," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "continue," and similar expressions are intended to identify such forward-looking statements.These forward-looking statements include, without limitation, the extent to which Net Element International's agreement with NTH Group broadens TOT Money's mobile messaging and mobile payments business to additional emerging countries; Net Element International's plans, intentions and expectations with respect to the proposed acquisition of Unified Payments;the extent to which the proposed acquisition of Unified Payments diversifies Net Element International's TOT Money business and/or expands its presence in the payment processing market; and the extent that Unified Payments' business provides recurring revenues in the United States to Net Element International following the closing of the proposed acquisition.All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element International and are difficult to predict.Examples of such risks and uncertainties include, but are not limited to: (i) Net Element International's agreement with NTH Group may not have a material positive impact (or may not have a positive impact at all) on Net Element International's future business, operations and results of operations; (ii) risks and uncertainties related to expanding operations into foreign countries and other jurisdictions where Net Element International has no significant prior experience; (iii) the failure of Net Element International for any reason to enter into an acquisition agreement for the acquisition of Unified Payments; (iv) if such an acquisition agreement is entered into, the failure of the proposed acquisition to close for any reason; (v) the impact of the proposed acquisition of Unified Payments on the markets for Net Element International's and its subsidiaries' products and services and on the markets for Unified Payments' products and services; (vi) the employees of Net Element International and Unified Payments not being integrated successfully; (vii) operating costs and business disruption following the proposed acquisition of Unified Payments, including adverse effects on employee retention and on Net Element International's and/or Unified Payments' business relationships with third parties; (viii) adverse effects on the financial condition of Net Element International following the proposed acquisition as a result of the assumption of indebtedness of United Payments; (ix) adverse changes in the performance of the business of Unified Payments; (x) the future performance of Net Element International following the closing of its proposed acquisition of Unified Payments; and (xi) local, industry and general business and economic conditions.Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the current report, as amended, on Form 8-K/A filed with the Securities and Exchange Commission (the "SEC") on November 19, 2012 (including, without limitation, the information incorporated by reference therein from the Definitive Joint Proxy Statement and Prospectus, dated September 4, 2012, filed with the SEC on September 5, 2012), the most recent annual report on Form 10-K and the subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element International with the SEC.Net Element International anticipates that subsequent events and developments may cause its plans, intentions and expectations to change.Net Element International assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
Dan Bruck, 305-507-8808
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