Network International expecting DPO acquisition to close in third quarter

Middle East and Africa-focussed payments technology company Network International updated the market on its acquisition of DPO Group on Thursday, reporting “good progress” towards closing.

The FTSE 250 company said it had achieved regulatory approvals across most of the 19 countries in which DPO operates, and was “constructively engaged” with regulators in the two countries where approvals remained outstanding.

It said the pace and nature of progress in recent weeks had been “reassuring”, and as a result, it now expected completion during the third quarter.

“We remain excited about the acquisition and the future combined growth of our complementary businesses,” the board said in its statement.

“DPO has traded strongly and ahead of our expectations during 2021, supported by good momentum in new merchant signups and the ongoing transition towards digital and e-commerce payments across its markets.”

At 0816 BST, shares in Network International Holdings were up 2.16% at 373.6p.