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Euronet Worldwide purchases Pure Commerce

Global electronic payment services provider Euronet Worldwide has acquired Pure Commerce, a provider of cloud-based financial and payment solutions to banks, acquirers and global retailers around the world.

Further terms of the transaction have not been disclosed.

The deal will enable Euronet to provide currency conversion and multi-currency acquiring services to global, local and online merchant acquirers, banks and retailers, as well as to expand its operating markets.

Euronet Worldwide chairman and CEO Michael Brown said, "Pure Commerce shares our goal of bringing payment convenience to consumers worldwide through products and services that complement our existing portfolio of value added payment solutions."

Upon completion of the transaction, Pure Commerce will continue to be headed by its current CEO Daniel Lavecky.

Jefferies & Co. served as an advisor to Pure Commerce in this transaction.

Founded in 1997 and headquartered in Sydney, Pure Commerce offers various currency conversion payment and multi-currency acquiring services for point-of-sale terminals, online applications and ATMs in high foreign card volume locations mainly across Asia Pacific and Europe.

Euronet Worldwide provides payment and transaction processing technologies including ATM, POS and card outsourcing services, card issuing and merchant acquiring services to financial institutions, retailers, service providers and individual consumers.