PayNet has 44 employees and it operates 720 ATMs, 1,700 POS terminals and it manages some 540,000 cards, Euronet said in a news release. The company is a certified VISA and MasterCard provider.
PayNet posted sales of 11.3 million lei (EUR2.6 million) in 2010, down 6% from RON12.1 million in 2009.
“The PayNet acquisition will generate revenues of approximately $3 million in the initial year of ownership together with accretive cash earnings per share of approximately one cent per share; it should contribute additional earnings in subsequent years because of synergies between the two companies,” Euronet said in a news release.