over 3 years ago • 2 mins
The ink’s not even dry on Nexi’s recent $5.4 billion acquisition, but the payments firm is already chasing another deal this week – this time with Danish firm Nets 🏃♂️
Italy’s Nexi hit the stock market last year and its share price has doubled since. That might’ve given it the chutzpah to go out and start hoovering up its rivals: the payments tech firm confirmed it’d be buying fellow Italian SIA on Sunday, only to make its interest in Nets – which is currently owned by private equity investors and valued at $10 billion – known the very next day.
Consolidation among payments firms has been in vogue lately: the US alone has seen PayPal buy iZettle, Fiserv buy First Data, and FIS buy Worldpay 🤝 Europe’s been at it as well, with French firms Worldline and Ingenico agreeing to team up. Nexi might’ve been swallowed up by a giant too, but it can rest easier now: Sunday’s deal has made it one of Europe’s biggest payment firms, and it’s not stopping there...
The payments processing market is exploding as people spend less cash, and it’s expected to be worth $2.4 trillion by 2027 💳 And investors know which way the wind is blowing: payments firm Square’s stock has soared 350% since March, PayPal’s shares are up 130%, and Ant Financial’s upcoming initial public offering might be the biggest ever.
Another long-awaited deal – between French utilities firms Veolia and Suez – finally started taking shape this week 🇫🇷 Veolia’s bought an almost 30% stake in Suez and is expected to use it as a launchpad to buy the entire thing – even though Suez would rather stay independent. It might be alone there: even the French government likes the sound of being home to a global giant in waste treatment and environmental services. Who wouldn’t?
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