Euronet To Acquire ATM Assets Of Swedbank AB; Aims To Provide ATM Outsourcing Services In Europe

Euronet Worldwide

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Kaufen / Verkaufen

(RTTNews) - Euronet Worldwide, Inc. (EEFT), a financial technology solutions and payments provider, Thursday said it agreed to acquire ATM assets of Swedbank AB (SWED-A.ST) and provide ATM outsourcing services in Lithuania, Estonia, and Latvia. The transition to begin in the fall of 2025.

The acquisition is expected to strengthen Euronet's presence in Europe and highlight its appealing ATM services for consumers, businesses, and banks.

According to the agreement, Euronet will purchase the bank's ATMs, both in-branch and off-branch, across the three Baltic states. They will also handle the transition to their Ren payment processing platform and link it with the bank's existing systems.

Swedbank's ATM network consists of 1,141 machines, with 373 in Estonia, 362 in Latvia, and 406 in Lithuania. The network includes ATMs for withdrawing cash as well as machines for depositing and recycling.

Olof Sundblad, Acting Head of Swedbank Baltic Banking, said, "We expect the transfer of ATM network services to Euronet to speed up the modernization of our ATM network in Estonia, Latvia, and Lithuania, thus bringing our customers added value while keeping the same interface."

Wednesday, EEFT had closed 0.74 cents or 0.71% higher at $104.92 on the Nasdaq. In the premarket trading, EEFT is 0.74% higher at $105.70.

Thursday, SWED-A.ST is currently trading at 0.10 cents or 0.05% lesser at $219.30.