Global technology and value-added solutions group Net Element, Inc. (NASDAQ: NETE) this morning announced that through its Unified Payments subsidiary, it has acquired cash flow assets totaling $2.7 million via certain transactional services portfolio from Universal Payment Systems (“UPS”). The acquired assets are anticipated to produce more than $5 million in gross profits over the next four years, with continued profits generated subsequently. “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,” Net Element’s president of integrated payments Vlad Sadovskiy stated in the news release.
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About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the U.S., it aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, the company’s cloud based, restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest growing companies in North America on Deloitte’s 2017 Technology Fast 500™. In 2017, Net Element was recognized by South Florida Business Journal’s as one of 2016’s fastest growing technology companies. Further information is available at www.NetElement.com
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