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Nets, Concardis Payment Group complete merger

Nets A/S and Concardis Payment Group GMBH have completed their merger , Nets said Jan. 7.

The merger results in a business with approximately €500 million of EBITDA and €1.3 billion of net revenue.

Nets CEO Bo Nilsson will lead the combined group while Robert Hoffmann will retain his position as Concardis Group CEO, reporting directly to Nilsson.

Private equity investors Hellman & Friedman LLC, Advent International Corp. and Bain Capital LP back the newly formed group.