Euronet Signs Agreement with Swedbank to Acquire ATM Assets and Provide ATM Outsourcing Services in Estonia, Lithuania and Latvia
Euronet (NASDAQ: EEFT) has announced an agreement with Swedbank to acquire its ATM assets and provide ATM outsourcing services in Lithuania, Estonia and Latvia. The acquisition includes 1,141 ATMs across the three Baltic countries (373 in Estonia, 362 in Latvia, and 406 in Lithuania), comprising both cash withdrawal and deposit/recycling machines.
The migration will commence in fall 2025, with Euronet integrating the ATMs into its independent ATM network while maintaining Swedbank's branding. The deal aims to optimize operations, reduce costs, and enhance services while ensuring business continuity. The acquired network will be integrated with Euronet's Ren payments processing platform, maintaining the same interface for Swedbank customers.
Euronet (NASDAQ: EEFT) ha annunciato un accordo con Swedbank per acquisire i suoi beni legati agli sportelli automatici e fornire servizi di outsourcing per sportelli automatici in Lituania, Estonia e Lettonia. L'acquisizione include 1.141 sportelli automatici nelle tre nazioni baltiche (373 in Estonia, 362 in Lettonia e 406 in Lituania), comprendendo sia macchine per il prelievo di contante che per il deposito/riciclo.
La migrazione inizierà nell'autunno del 2025, con Euronet che integrerà gli sportelli automatici nella sua rete di sportelli indipendenti mantenendo il marchio di Swedbank. L'accordo mira a ottimizzare le operazioni, ridurre i costi e migliorare i servizi garantendo al contempo la continuità aziendale. La rete acquisita sarà integrata con la piattaforma di elaborazione dei pagamenti Ren di Euronet, mantenendo la stessa interfaccia per i clienti di Swedbank.
Euronet (NASDAQ: EEFT) ha anunciado un acuerdo con Swedbank para adquirir sus activos de cajeros automáticos y proporcionar servicios de subcontratación de cajeros automáticos en Lituania, Estonia y Letonia. La adquisición incluye 1.141 cajeros automáticos en los tres países bálticos (373 en Estonia, 362 en Letonia y 406 en Lituania), que comprenden tanto máquinas de retiro de efectivo como de depósito/reciclaje.
La migración comenzará en otoño de 2025, con Euronet integrando los cajeros automáticos en su red independiente, manteniendo la marca de Swedbank. El acuerdo tiene como objetivo optimizar las operaciones, reducir costos y mejorar los servicios, asegurando al mismo tiempo la continuidad del negocio. La red adquirida se integrará con la plataforma de procesamiento de pagos Ren de Euronet, manteniendo la misma interfaz para los clientes de Swedbank.
유로넷 (NASDAQ: EEFT)이 스웨드뱅크와 협약을 체결하고 리투아니아, 에스토니아, 라트비아에서 ATM 자산 인수 및 ATM 아웃소싱 서비스를 제공한다고 발표했습니다. 이번 인수에는 세 발트 국가에서 총 1,141개의 ATM이 포함되어 있으며 (에스토니아 373개, 라트비아 362개, 리투아니아 406개) 현금 인출 및 입금/재활용 기계가 포함됩니다.
이전 작업은 2025년 가을에 시작되며, 유로넷은 ATM을 자체 독립 ATM 네트워크에 통합하고 스웨드뱅크의 브랜드를 유지할 것입니다. 이번 계약의 목표는 운영을 최적화하고 비용을 줄이며 서비스를 향상시키는 동시에 비즈니스 연속성을 보장하는 것입니다. 인수된 네트워크는 유로넷의 Ren 결제 처리 플랫폼과 통합되어 스웨드뱅크 고객을 위한 동일한 인터페이스를 유지합니다.
Euronet (NASDAQ: EEFT) a annoncé un accord avec Swedbank pour acquérir ses actifs de distributeurs automatiques et fournir des services d'externalisation de DAB en Lituanie, en Estonie et en Lettonie. L'acquisition comprend 1.141 DAB dans les trois pays baltes (373 en Estonie, 362 en Lettonie et 406 en Lituanie), comprenant des machines de retrait en espèces ainsi que des machines de dépôt/recyclage.
La migration commencera à l'automne 2025, Euronet intégrant les DAB dans son réseau indépendant tout en conservant la marque Swedbank. L'accord vise à optimiser les opérations, à réduire les coûts et à améliorer les services tout en assurant la continuité des activités. Le réseau acquis sera intégré à la plateforme de traitement des paiements Ren d'Euronet, tout en maintenant la même interface pour les clients de Swedbank.
Euronet (NASDAQ: EEFT) hat eine Vereinbarung mit Swedbank bekannt gegeben, um deren Geldautomatentechnologie zu erwerben und Outsourcing-Dienste für Geldautomaten in Litauen, Estland und Lettland anzubieten. Die Übernahme umfasst 1.141 Geldautomaten in den drei baltischen Ländern (373 in Estland, 362 in Lettland und 406 in Litauen) und beinhaltet sowohl Bargeldabhebungs- als auch Einzahlungs-/Recyclingautomaten.
Der Umzug beginnt im Herbst 2025, wobei Euronet die Geldautomaten in sein unabhängiges Geldautomatennetz integriert und gleichzeitig die Marke von Swedbank beibehält. Das Geschäft zielt darauf ab, die Abläufe zu optimieren, Kosten zu senken und den Service zu verbessern sowie die Geschäftskontinuität zu gewährleisten. Das übernommene Netzwerk wird mit der Ren-Zahlungsabwicklungsplattform von Euronet integriert, wobei die gleiche Schnittstelle für die Kunden von Swedbank erhalten bleibt.
- Acquisition of 1,141 ATMs expanding Euronet's presence in Baltic region
- Integration with existing IAD network increases service touchpoints
- Cost reduction and operational optimization potential
- Long-term revenue stream through ATM outsourcing services
- Strategic expansion in European market
- Significant capital expenditure required for acquisition
- Integration costs and risks during migration period
- Extended timeline with migration starting fall 2025
Insights
This strategic acquisition of 1,141 ATMs across three Baltic countries represents a significant expansion of Euronet's European footprint and recurring revenue stream. The deal encompasses both cash withdrawal and deposit/recycling ATMs, providing comprehensive coverage in Estonia, Latvia and Lithuania. The integration with Euronet's Ren payments platform should drive operational efficiencies and cost reductions while maintaining service quality.
The timing of the migration, starting fall 2025, allows for proper integration planning. This follows Euronet's proven model of ATM network consolidation and bank partnerships, which has historically improved margins through economies of scale. The agreement provides multiple revenue streams: asset acquisition, ongoing outsourcing services and network participation fees. For Swedbank, this represents a shift from capital-intensive ATM ownership to an OpEx model, potentially improving their cost structure and ROE.
This deal strengthens Euronet's market position in the Baltic region and aligns with the broader industry trend of banks outsourcing non-core operations to specialized providers. The agreement maintains Swedbank's brand visibility while transferring operational responsibilities to Euronet, creating a win-win scenario. The integration with Euronet's independent ATM network will increase accessibility for customers while potentially generating additional transaction revenue from cross-usage.
The timing is strategic as banks across Europe seek to optimize their ATM networks amid digital transformation. This could serve as a model for similar deals in other regions, particularly as banks balance the need for physical cash access with cost optimization. The deal's structure demonstrates Euronet's ability to provide tailored solutions that preserve bank branding while delivering operational efficiencies.
LEAWOOD, Kan., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Euronet (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, announced today an agreement with Swedbank to acquire the bank’s ATM assets and provide ATM outsourcing services in Lithuania, Estonia and Latvia.
Under the agreement, Euronet will acquire the bank’s in-branch and off-branch ATM assets in the three Baltic countries while ensuring seamless migration to Euronet’s state-of-the-art Ren payments processing platform and integration with the bank’s existing systems. The Swedbank ATM network has 1,141 ATMs (373 in Estonia, 362 in Latvia and 406 in Lithuania) and includes cash withdrawal and cash deposit/recycling ATMs. The migration will start in the fall of 2025.
The agreement will result in an optimized and more sustainable operation of Swedbank’s ATM fleet, enhancing its ATM footprint with state-of-the-art services for its customers while reducing operational costs and capital expenditures. It also will allow personalized user experiences for the bank’s customers within the same screen flows, transaction sets and look-and-feel to ensure absolute business continuity. In addition, Euronet will maintain Swedbank’s ATM branding elements and signage with the bank’s brand remaining visible throughout the acquired ATM network.
The agreement safeguards ATM availability and cash accessibility throughout the region. In addition to maintaining the number of the bank’s ATMs, the acquired ATM network will be integrated into Euronet’s independent ATM network (IAD) in the three countries, offering more touchpoints and services for the bank’s customers while ensuring full compliance with future regulatory requirements.
The announcement expands Euronet’s strong presence in Europe and the company’s attractive ATM value proposition to consumers, businesses and banks powered by Ren and Euronet’s operational excellence model that ensures availability, security and high-quality services to its customers.
“We are pleased with this agreement with Swedbank in the Baltics region, and we are committed to providing the highest standards of service to the bank and its customers,” said Marek Szafirski, Managing Director Financial Institutions Solutions and Technology, Euronet EFT Division. “Our long-standing experience in bank ATM assets purchasing and ATM outsourcing services delivers real value, and we are excited to experience the appreciation of these services by our partners.”
“We expect the transfer of ATM network services to Euronet to speed up the modernization of our ATM network in Estonia, Latvia and Lithuania, thus bringing our customers added value while keeping the same interface,” said Olof Sundblad, Acting Head of Swedbank Baltic Banking.
The agreement in the Baltics follows a series of global ATM expansion initiatives for Euronet, including recent acquisitions of ATM assets and the provision of ATM network participation services to multiple banks. In addition to enhancing the company’s footprint in existing markets, Euronet’s diversified go-to-market strategy includes expanding the deployment of its IAD, followed by strategic agreements with financial institutions that are reviewing their ATM network deployment plans, seeking operational efficiencies and expanding their product offerings to customers.
“We share Swedbank’s aspiration and commitment to provide value at scale to local economies while leveraging new technologies and adopting a forward-looking mindset,” said Nikos Fountas, Executive Vice President and Chief Executive Officer of Euronet Americas and EMEA EFT Division. “As an important element of our growth strategy, this agreement strengthens our position as a catalyst for ATM consolidation with our superior technology, operational services and wide range of products. Across Europe, our experience enables us to drive a wave of ATM innovations, and we are confident that this trend will further accelerate. We have the technology, the resources, the knowledge and a solid value proposition that places us at the forefront of payments innovation.”
About Swedbank
Swedbank is one of the leading banks in the Baltic States and Sweden. The bank is listed on the Stockholm Stock Exchange OMX Nordic Exchange. Swedbank serves over 7 million private customers and over 0.5 million corporate clients and organizations in its four home markets - Sweden, Estonia, Latvia and Lithuania.
About Euronet
Starting in Central Europe in 1994 and growing to a global real-time digital and cash payments network with millions of touchpoints today, Euronet now moves money in all the ways consumers and businesses depend upon. This includes money transfers, credit/debit processing, ATMs, point-of-sale services, branded payments, currency exchange and more. With products and services in more than 200 countries and territories provided through its own brand and branded business segments, Euronet and its financial technologies and networks make participation in the global economy easier, faster and more secure for everyone.
A leading global financial technology solutions and payments provider, Euronet has developed an extensive global payment network that includes 55,292 installed ATMs, approximately 949,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 67 countries; card software solutions; a prepaid processing network of approximately 766,000 POS terminals at approximately 348,000 retailer locations in 64 countries; and a global money transfer network of approximately 595,000 locations serving 198 countries and territories. Euronet serves clients from its corporate headquarters in Leawood, Kansas, USA, and 67 worldwide offices. For more information, please visit the company's website at www.euronetworldwide.com.
FAQ
How many ATMs will EEFT acquire from Swedbank in the Baltic region?
When will EEFT begin the migration of Swedbank's ATM network?
Will Swedbank's branding remain on the ATMs after EEFT's acquisition?
What services will be available on the acquired Swedbank ATMs under EEFT?
How will this acquisition affect Swedbank's customers?
