- NETE subsidiary United Payments acquires cash flow assets totaling $2.7 million
- Recent financial performance shows that NETE increased revenues in Q1 2018 by 17.85 percent
- One-stop omni-channel processing solution with 100-plus payment solutions
- Global business-to-business sales estimated at $7.7 trillion, compared to $2.3 trillion business-to-consumer market
Net Element, Inc. (NASDAQ: NETE) expects a recent acquisition, purchased through subsidiary Unified Payments, to generate well over $5 million in gross profits over the next four years, with recurring profits expected to continue to enhance the company’s profit margins, the company stated in a news release (http://ccw.fm/qOht0). As a global financial technology and value-added solutions group that supports electronic payments acceptance in an omni-channel environment spanning across point-of-sale, e-commerce and mobile devices, Net Element continues to challenge the status quo by delivering flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions.
Net Element’s all-in-one payment solutions support a wide range of applications through a single, robust platform designed to help small- and medium-sized businesses around the world succeed and prosper (http://ccw.fm/eH08A). The company’s ability to select and build collaborative and mutually beneficial partnerships is nicely illustrated in its recent acquisition of certain transactional services portfolio (cash flow assets) for $2.7 million from Universal Payment Systems (“UPS”).
“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,” Vlad Sadovskiy, president of integrated payments for Net Element, stated in the news release.
“Net Element has always stayed true to their word. They have been supportive and committed to our success over the years and this has helped us grow our business significantly. We are excited to expand our partnership with Net Element,” added Anthony Kutscher Jr., president of Universal Payment Solutions. “This transaction will fuel our continued growth for years to come.”
A new independent research report detailing key market demands for NETE products and services notes that the company’s recent financial performance continues to improve. In the report, issued by Fundamental Markets, Net Element’s reported revenue for the first quarter of 2018 increased by 17.85 percent, coming in at $15.98 million versus $13.56 million over the same period last year. The report, titled “Market Trends Toward New Normal in Net Element, Sysco, Maximus, Axis Capital, Nuance Communications, and ProPetro Holding — Emerging Consolidated Expectations, Analyst Ratings” is accessible by registration (http://ccw.fm/Rqk3l). Net Element is expected to report earnings on August 13, 2018, for the fiscal period ended June 30, 2018.
For more information, visit the company’s website at www.NetElement.com
More from CryptoCurrencyWire
About CryptoCurrencyWire (“CCW”)
CryptoCurrencyWire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness.
CryptoCurrencyNewsWire is where News, content and information converge via Crypto.
For more information, please visit https://www.cryptocurrencywire.com
New York, New York