Euronet acquires Brodos SRL

Electronic payments provider Euronet has acquired 100 per cent of the shares in Brodos SRL, an electronic pre-paid mobile airtime processor in Romania.

The acquisition of Brodos Romania marks the entry of Euronet into the Romanian prepaid market, which is Euronet's 12th prepaid market.

Established in 2001, Brodos Romania specializes in processing electronic purchases of pre-paid mobile phone airtime primarily on point-of-sale (POS) terminals. Brodos Romania also offers electronic recharge or top-up services for mobile airtime through ATMs, PC and electronic cash register systems. The company currently supports top-up purchases at more than 14,000 POS terminals in Romania. In addition to pre-paid mobile top-up, Brodos Romania also offers prepaid long distance calling cards and internet services cards.

Brodos Romania has multi-year processing agreements with Vodafone and Orange, the two largest mobile operators in the market. Additionally, Brodos Romania has direct relationships with the country’s leading distributors of prepaid mobile airtime, as well as major retailers and petrol station chains.

Euronet has consolidated Brodos Romania's processing platform including all customer connections and POS network into Transact, the company’s German pre-paid business. Euronet expects the full year financial impacts of the acquisition of Brodos Romania to be slightly accretive to Euronet's 2007 results.

(Source: Digital Media Europe)