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CVC Capital and Francisco Partners in talks for a $2.56 Billion bid for Network International

Network International is a payment system firm with 50% of market share in merchant solutions. The payment service industry is exhibiting continual growth and is expected to reach a size of $30.5 billion by 2028.

Network International works in over 50 countries in the Middle East and Africa processing digital payments for merchants through PC and Smartphone and is an innovator in the market, as they have been exploring face payment technology in UAE.

Californian based Francisco Partners and French private equity firm CVC are in talks to acquire the company for $2.56 billion.

Network has received a series of offers in the past but has always rejected them: "The proposal follows a series of prior proposals to acquire Network, which were rejected. The proposal is subject to the satisfaction or waiver by the consortium of a number of pre-conditions, including the completion of satisfactory due diligence.”

The payments processor firm received an offer of 387p per share which is 28% more than the stock market closing price.

Whilst the board has voiced willingness to accept a proposal, stakeholders rather a bid of 400p per share.

From Sortino’s perspective, this potential deal will enable Network International to continue to expand growth in the payment processing market in which it is delivering innovative services. Therefore, in this takeover by the consortium it could further Network’s ability to enter more markets like Egypt and be at the forefront of face ID payment systems.

Written by: Francesco D'Andrea

Sources: Bloomberg, Financial Times, PYMNTS

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