Pendum
Elan

Leawood, Kans.-based IAD and electronic payments provider Euronet has announced its acquisition of Pure Commerce, a provider of cloud-based financial and payment solutions to banks, acquirers and retailers around the world.

Headquartered in Sydney, Australia, Pure Commerce provides a range of currency conversion payment and multicurrency acquiring services for ATMs in locations with high foreign card volumes, mostly across Asia Pacific and Europe — as well as for POS terminals and online applications.

The acquisition of Pure Commerce allows Euronet to offer currency conversion and multicurrency acquiring products to banks, retailers, and global, local and online merchant acquirers. The deal also extends Euronet's operating markets, the company said in a press release about the Pure Commerce purchase. New York City-based global securities and investment banking firm Jefferies & Co. served as an advisor to Pure Commerce in the transaction with Euronet.

The Pure Commerce management team brings significant experience in the rapidly growing cloud-based on-demand financial payment and solutions market, Euronet said. Current customers include major international banks, merchant acquirers and global merchants. 

Current Pure Commerce CEO Daniel Lavecky will continue to run the company, which produced about $15 million in revenue for 2012, and has grown at a compounded annual rate of approximately 30 percent in the last three years. 

"I am very excited to join the Euronet group of companies," Lavecky said. "The combined strength of Euronet and Pure Commerce should enable us to accelerate our growth in this expanding and exciting service category."

For more on this topic, visit the transaction processing research center.

Related Content

User Comments – Give us your opinion!
Products & Services

ATM Anti-Theft Kit

http://global.networldalliance.com/new/images/products/4053.png

4053/ATM-Anti-Theft-Kit

TMD Security Pack 1: Anti-skimming with Tilt and Vibration …

http://global.networldalliance.com/new/images/products/6193.png

6193/TMD-Security-Pack-1-Anti-skimming-with-Tilt-and-Vibration-Protection

Refurbished ATMs

http://global.networldalliance.com/new/images/products/429.png

429/Refurbished-ATMs

Lobby ATMs

http://global.networldalliance.com/new/images/products/rl2000_reflect_2.jpg

605/Lobby-ATMs

ATM Lobby Cash

http://global.networldalliance.com/new/images/products/Itautec_IW1101.gif

734/ATM-Lobby-Cash

PC/E Suite

http://global.networldalliance.com/new/images/products/5791.png

5791/PC-E-Suite

KAL Software

http://global.networldalliance.com/new/images/products/KAL_Logo_SF100.gif

885/KAL-Software

Software Security – NCR Solidcore Suite for APTRA™

http://global.networldalliance.com/new/images/products/NCR_logo_100_0409.gif

3728/Software-Security-NCR-Solidcore-Suite-for-APTRA

V4500 Enterprise Class Router: Best-in-Class Connectivity

http://global.networldalliance.com/new/images/products/4380.png

4380/V4500-Enterprise-Class-Router-Best-in-Class-Connectivity

Drive Up ATM

http://global.networldalliance.com/new/images/products/ft5000_reflect_2.jpg

947/Drive-Up-ATM

ATM & Mobile Innovation Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.