Network International: Announces New Strategic Vision to Accelerate MEA Growth and Completes Acquisition of DPO Group

The ambition to be the fastest growing and most innovative customer-centric payment company in Africa and the Middle East; New strategy made possible by the transformation of the business model providing the platform for accelerated growth; Expect 27-29% year-on-year revenue growth in 2022, medium-term revenue outlook increased to over 20%, ahead of previous forecast; DPO Group is a natural complement to Network (; consolidating presence in high-growth African markets, bringing direct services to merchants in 21 new countries, doubling the exposure of Network’s online payments over time; DPO acquired for $ 291.3 million, with the transaction expected to generate double-digit ROCE within three years.

International Network (“Network”) today announced its new strategic vision and underlined its ambition to be the fastest growing and most innovative customer-centric payments company in the world. Middle East and Africa. In addition, Network also announced the successful completion of its acquisition of DPO Group (“DPO”), the leading high-growth online payment platform through Africa, for full consideration of $ 291.3 million.

A transformation towards accelerated growth

Network’s new strategic vision is made possible by a transformation of the business model, both operationally and culturally. Network’s strong legacy has been built on being the partner of choice for direct payments to merchants in the United Arab Emirates and Jordan, transaction processing being the cornerstone of the customer proposition. Today, the company is transforming, providing a platform to accelerate growth through value-added services supported by accelerated execution and innovation, and a focus on more direct payment services to merchants.

As part of its new strategic vision, Network is already delivering accelerated performance: Market leadership: ensuring faster growth in the United Arab Emirates & Jordan to extend its lead in direct acquisition from retailers Speed ​​of innovation: Launch of a wide range of new capabilities and value-added services in the two customer businesses Customer priority: A restructured management team and organization to be closer to customers and markets Execution improvement: DPO acquisition finalized with entry Saudi Arabia accelerated

The new strategy will ensure that Network is able to help businesses and economies thrive by simplifying commerce and payments through faster digital integration, technological advancements to lower the cost of acceptance, expanding the range of value-added services and becoming the champion of e-commerce. In the region.

The new strategic vision is expected to result in accelerated growth, with Network’s medium-term revenue outlook now forecast at over 20% per year, ahead of previous forecasts for teens. Network also expects the group’s underlying EBITDA margin to return to 45-50% (H1 2021: 35%) in the medium to long term and will consider faster growth from selective mergers and acquisitions, including market consolidation and acquisitions to expand into new markets more quickly and to shorten the time to market for new capacities.

Nandan Sea, Managing Director, commenting on the launch of the new strategic vision, said:

“We are delighted to announce today our new strategic vision, which will accelerate International Network growth in all of its operating markets. Our business is transforming and our new strategy will allow us to provide customers with the simplest solutions to initiate and process payments using some of the most innovative products and services. Thanks to the new strategy and our enviable position in structurally attractive growth markets through the Middle East and Africa, we now expect significantly accelerated revenue growth of over 20% per year over the medium term. “

Completion of DPO Group acquisition

Completion of the acquisition of DPO for $ 291.3 million marks an important step in Network’s growth strategy and will create significant scale across its online payment business. The network will benefit from greater payment service coverage with access to DPO’s well-established merchant network of more than 60,000 SMEs and global companies, in 21 countries across Africa. The transaction also opens up significant synergies between the two companies, with Network having access to DPO’s unique and innovative online payment solutions; and DPO benefiting from Network’s strengths in face-to-face payments and higher transaction authorization rates.

The African online payment market value in 2020 was over $ 30 billion and is expected to grow at a compound annual growth rate (CAGR) of approximately 30% between 2021 and 20251. The success of DPO’s business in Africa is underpinned by its ability to deliver innovative online payment capabilities, designed to meet the unique needs of merchants on the continent. Merchants can accept online payments in over 20 currencies, including credit and debit cards, mobile money wallets, bank transfers, and more. In addition, DPO has also developed a full suite of value-added services, including several easy checkout options, fraud detection and loyalty marketing and analysis, as well as the ability for merchants to set up a store from e-commerce ready to use in just 72 hours.

Network customers will benefit from the transaction by accessing DPO’s full range of payment acceptance methods and its suite of value-added services, opening up a myriad of new opportunities for merchants to expand the reach of their business.

DPO has continued to exceed expectations over the past twelve months despite the impact of the pandemic, generating 54% year-on-year revenue growth in the first half of 2021. Network expects the acquisition considerably accelerates its revenue growth by Africa and lead to a doubling of participation in online payment volume over time. Overall, Network expects the acquisition to generate double-digit returns (ROCE: Return On Capital Employed) over the medium term.

Commenting on the completion of the acquisition of DPO Group, Network Sea said:

“I am delighted to welcome DPO to the Network family. DPO fits perfectly into our business and the acquisition creates a unique combination of innovative online payment technologies, which will accelerate our growth while providing significant new capabilities for our established markets. We look forward to welcoming DPO colleagues into our group and working together to accelerate digital payments in the MEA region. “

[1] Source: Edgar, Dunn & Company 2020 data. $ 30 billion the market value refers to the total volumes processed

Distributed by APO Group from International Network.

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