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Company News Summary

EML Payments Acquires Sentenial and Enters the Open Banking Market in Europe

07 Apr 2021  |  08:34:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: EML Acquires Sentenial Ltd & enters the Open Banking Market

EML Payments entered into a binding Share Purchase Agreement to acquire 100% of Sentenial and its wholly owned subsidiaries (Sentenial) including their open banking product, Nuapay for an upfront enterprise value of EUR70m (A$108.6m), plus an earn-out component of up to EUR40m (A$62.1m) (the Acquisition). The Acquisition broadens the Company's payment offerings to include alternate (non-card, non-scheme) payment products to platform to address customer demand, complementing card scheme based payment.

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