Net Element acquires PayOnline to “cover all methods of online and mobile payments in Russia”

Earlier this month Net Element, a NASDAQ-listed provider of mobile payment and value-added transactional service and solutions in Russia and in the United States, announced the acquisition of Russian Internet payment service provider (IPSP) PayOnline.


The deal amounted to some $8 million, reported online tech portal CNews.ru, referring to SEC documents. The closing is still subject to the completion of due diligence and other customary closing conditions.


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