Euronet’s epay Division Acquires Telecom Net
S.A., a Brazilian Prepaid Distribution Company
September 01, 2010 02:51 PM Eastern Daylight Time
LEAWOOD, Kan.--(EON: Enhanced Online News)--Euronet Worldwide, Inc. ("Euronet" or the "Company')
(NASDAQ: EEFT), a leading electronic payments provider, today announced the closing of the acquisition of
substantially all capital shares of Sao Paulo-based Telecom Net S.A., operating under the trade name Ativi ("Ativi").
Euronet acquired Ativi from a group of private equity investors, including Darby Technology Ventures, Intel Capital
and Mifactory Fondo de Inversion Privado. Ativi distributes electronic prepaid products and bill payment services
via a network of over 14,000 retail locations throughout Brazil.
ATIVI ACQUISITION POSITIONS EPAY FOR GROWTH OPPORTUNITIES THROUGHOUT SOUTH
AMERICA
The acquisition will provide opportunities for epay to distribute its portfolio of global prepaid products in Brazil and
South America. Brazil is the largest economy in South America and has a growing population of 190 million with
over 140 million prepaid mobile subscribers. According to ANATEL (the Brazilian agency of telecommunications)
Brazil’s prepaid mobile subscriber base is expected to grow 45% by 2013, and it is estimated that 40% of Brazil’s
population is unbanked.
"We are enthusiastic about expanding epay’s reach, which encompasses operations in 24 countries with over
500,000 points of sale. Our global content partners, our consumer money transfer division, Ria, and our card
processing division should all benefit from our presence in South America,” said Charlie T. Piper, Managing Director
of epay. “With a growing sales force of approximately 200 employees, Ativi positions us well to deliver Euronet’s
payment products and solutions to Brazil’s high growth market.”
The Brazilian market and the Ativi acquisition are attractive to Euronet for many reasons:
l Brazil provides a large and stable platform for expansion throughout South America.
l