Acquisition Brings Innovative Technology and a Differentiating
Product Offering to its TOT Payments Group
MIAMI & MOSCOW--(BUSINESS WIRE)--
Element International (NASDAQ: NETE), a technology-driven group
specializing in electronic commerce and mobile payment processing is
pleased to announce today that they have completed the acquisition of Aptito,
a next generation, cloud-based point of sale platform for restaurants --
and operate it through newly-formed Aptito, LLC, a subsidiary TOT Group
("TOT"), its mobile payments and transaction processing holding company.
This acquisition brings innovative technology and a differentiating
product offering to TOT.
TOT is a multinational mobile payments and transaction processing
holding company which provides a unique range of flexible online and
offline payment solutions. Clients include wireless carriers, content
providers and merchants. TOT delivers comprehensive, end-to-end payment
solutions to enable merchants to reliably accept cashless transactions
at the point of sale (POS). From processing of electronic payments at
the POS to processing mobile commerce transactions to managing merchant
terminals and providing information management services, TOT offers
innovative solutions which allow its merchants to streamline their
Aptito is a next-generation, cloud-based payments platform, which
creates an online consumer experience into offline commerce environments
via tablet, mobile and all other cloud-connected devices. Aptito's
Restaurant mPOS solution provides restaurants with tools to increase
sales, productivity, and customer loyalty. The solution is a
tablet-based POS that combines traditional POS functionality with mobile
ordering, payments, social media, intelligent offers, mobile
applications, loyalty, and transactional data all in one solution with
Aptito's cloud-based payments platform at the center of it all.
Restaurant staff can place orders directly from their mobile phones
which instantaneously print in the kitchen.
Accepting payments at table-side enables faster service and less wait
time for consumers. Aptito's "visual" point of sale concept is designed
to speed up the learning curve and increase order input productivity.
Additionally, Aptito offers a mobile commerce application that allows
any restaurant to deploy mobile ordering tied to the mPOS. Aptito's Self
Ordering Apple® iPad®-based kiosk allows operators
to increase sales by providing an automated ordering system which gives
customers the speed and convenience that has been lacking in many areas
of food industry including Quick Service Restaurants ("QSR").
"We are excited that this acquisition has been completed. Aptito is an
ideal solution for our hospitality merchants who are anxious to increase
revenue per table and grow their customer base," said Oleg Firer, CEO of
Net Element. Adding, "Restaurants world-wide are facing similar
challenges to acquire new customers, maximize the spend per visit and
improve customer service while reducing staff costs. This acquisition
will be a strategic addition to TOT Group and one that delivers a
compelling solution and a competitive edge".
"Aptito will see an immediate benefit because we expand our global reach
while simultaneously gaining access to a sizable customer base," said
Gene Zell, CEO of Aptito. Adding, "Ultimately, merchants win because we
will now be able to deploy sooner to additional regions, with greater
support and with an accelerated expansion to the product line."
The terms of the proposed acquisition are disclosed in Net Element
International's Form 8-K filed with the SEC today.
About Net Element International (NASDAQ: NETE)
Net Element International (NASDAQ: NETE) is a global technology-driven
group specializing in electronic commerce, mobile payments and
transactional services. The company owns and operates a global mobile
payments and transaction processing provider, TOT Group, as well as
several popular content monetization verticals. Together with its
subsidiaries, Net Element International enables ecommerce and
content-management companies to monetize their assets in ecommerce and
mobile commerce environments. Its global development centers and
high-level business relationships in the United States, Russia and
Commonwealth of Independent States strategically position the company
for continued growth. The company has U.S. headquarters in Miami and
international headquarters in Moscow. More information is available at www.netelement.com.
Aptito, LLC ("Aptito"), subsidiary of TOT Group, Inc. is the new
generation of smart, customer engaged, patent-pending payments platform,
mobile Point of Sale ("mPOS"), mobile commerce application and
self-ordering Apple® iPad®-based kiosk. Through
its disruptive, cloud-based payments platform Aptito offers merchants an
innovative, socially driven, all-in-one digital software solution that
offers a complete package of features for the food-service industry.
Aptito's Restaurant mPOS solution provides restaurants with tools to
increase sales, productivity, and customer loyalty. Aptito's suite of
fully linked tools enable inventory management, complete payroll, staff
scheduling, patron reservations and digital menus. More capable and less
costly than traditional restaurant POS systems, Aptito doesn't have the
steep learning curve associated with typical POS products.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Any
statements contained in this press release that are not statements of
historical fact may be deemed forward-looking statements. Words such as
"proposed," "will," "may," "would," "could," "should," "expect,"
"expected," "contemplated," "plan," "project," "intend," "anticipate,"
"believe," "estimate," "predict," "potential," "continue," and similar
expressions are intended to identify such forward-looking statements.
These forward-looking statements include, without limitation, the extent
that Aptito provides benefits to restaurants equipped with the platform,
such as increased revenue per table or improved customer service; the
extent that Aptito expands its global reach or realizes benefits from
its access to TOT Group's customer base; and whether Net Element
International or its business continues to grow. All forward-looking
statements involve significant risks and uncertainties that could cause
actual results to differ materially from those expressed or implied in
the forward-looking statements, many of which are generally outside the
control of Net Element International and are difficult to predict.
Examples of such risks and uncertainties include, but are not limited
to: (i) the impact of the acquisition of Aptito on the markets for Net
Element International's and its subsidiaries' products and services and
on the markets for the products and services of Aptito; (ii) operating
costs and business disruption following the acquisition, including
adverse effects on business relationships with third parties; (iii) the
future performance of Net Element International following the closing of
the acquisition; (iv) Net Element International's ability (or inability)
to obtain additional financing in sufficient amounts or on acceptable
terms when needed; (v) Net Element International's ability to maintain
existing, and secure additional, contracts with users of its payment
processing services; (vi) Net Element International's ability to
successfully expand in existing markets and enter new markets; (vii) Net
Element International's ability to successfully manage and integrate any
acquisitions of businesses, solutions or technologies; (viii)
unanticipated operating costs, transaction costs and actual or
contingent liabilities; (ix) the ability to attract and retain qualified
employees and key personnel; (x) adverse effects of increased
competition on Net Element International's business; (xi) changes in
government licensing and regulation that may adversely affect Net
Element International's business; (xii) the risk that changes in
consumer behavior could adversely affect Net Element International's
business; (xiii) Net Element International's ability to protect its
intellectual property; and (xiv) local, industry and general business
and economic conditions. Additional factors that could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements can be found in the most recent annual report
on Form 10-K and the subsequently filed quarterly reports on Form 10-Q
and current reports on Form 8-K filed by Net Element International with
the Securities and Exchange Commission. Net Element International
anticipates that subsequent events and developments may cause its plans,
intentions and expectations to change. Net Element International assumes
no obligation, and it specifically disclaims any intention or
obligation, to update any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by law.
Net Element International
Dan Bruck, 305-507-8808
Source: Net Element
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