Euronet Worldwide Buys Pure Commerce

Euronet Worldwide, Inc.(Nasdaq: EEFT), a leading global electronic payments provider and distributor,today announced the acquisition of Pure Commerce, a fast-growing provider ofcloud-based financial and payment solutions to banks, acquirers and globalretailers around the world. Pure Commerce is headquartered in Sydney,Australia, and provides a range of currency conversion payment andmulti-currency acquiring services for point-of-sale terminals, onlineapplications and ATMs in high foreign card volume locations primarily acrossAsia Pacific and Europe.This acquisition allows Euronet to offer industry leading currency conversionand multi-currency acquiring products to global, local and online merchantacquirers, banks and retailers, and also extends Euronet's operating markets.Pure Commerce has developed patented, best-in-class point-of-sale processesand displays that provide consumers with more convenient, transparenttransactions. Its product portfolio also increases retailer earnings potentialthrough multi-currency sales capabilities for both over-the-counter and onlinesales. Pure Commerce customers include leading international banks, merchantacquirers and global merchants. Certain of these global merchants specializein retail sales in duty free shops, offering brands such as Louis Vuitton,Prada, Hugo Boss and Chanel, among many others."Pure Commerce shares our goal of bringing payment convenience to consumersworldwide through products and services that complement our existing portfolioof value added payment solutions," stated Michael J. Brown, Chairman and ChiefExecutive Officer of Euronet Worldwide. "Moreover, we believe the PureCommerce products and services will bring exciting revenue sources to ourexisting customers in the three segments we operate, while Pure Commerce'sstrength in the Asia Pacific region will add value to our existingbusinesses."Pure Commerce's management team brings significant experience in the rapidlygrowing cloud-based on-demand financial payment and solutions market, and willcontinue to be managed by current CEO, Daniel Lavecky. The Pure Commercemanagement team produced approximately $15 million in revenue for 2012 whichhas grown at a compounded annual rate of approximately 30% over the last threeyears."I am very excited to join the Euronet group of companies," said Lavecky. "Thecombined strength of Euronet and Pure Commerce should enable us to accelerateour growth in this expanding and exciting service category."Euronet expects the acquisition to contribute approximately three to fourcents to Euronet's annual cash earnings per share in 2013.