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Net Element acquires certain cash flow assets for $1.4M

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Net Element acquires certain cash flow assets for $1.4M

Net Element Inc., through subsidiary Unified Portfolio Acquisitions, acquired certain cash flow assets from Argus Merchant Services LLC and Treasury Payments LLC for $1.4 million.

Net Element said that the acquired cash flow assets will generate over $4 million in gross profits over the next four years. It also said that Argus Merchant Services's billing commitment to subsidiary Unified Payments LLC is expected to generate over $19 million in gross margin over the next five years.