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Euronet History and Timeline
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| December |
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Euronet confirmed it delivered a letter to the Board of Directors of MoneyGram International, Inc. ("MoneyGram") (NYSE: MGI) on December 4, 2007, in which Euronet offered to acquire MoneyGram.
Subsequently, on February 28, 2008, Euronet decided not to submit a proposal to acquire MoneyGram. Euronet announced that after thorough analysis it decided not to pursue the MoneyGram opportunity as Euronet was unable to structure the transaction to provide its shareholders an acceptable return on investment commensurate with the risk. |
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| November |
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Euronet announced electronic mobile top-up agreement with SMA S.p.A., one of the largest grocery chains in Italy. This agreement marks Euronet’s entry into Italy, the largest prepaid market in Europe. |
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| October |
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Euronet ranked 28 overall on Forbes Magazine’s list of 200 Best Small Companies. Forbes judged candidates according to return on equity, as well as sustained sales and net profit growth over 12-month and five-year periods.
Euronet’s ATX prepaid subsidiary announced exclusive electronic top-up agreement with all of the distributors of Saudi Telecom's prepaid products. Saudi Telecom Company (STC) is the largest mobile operator in Saudi Arabia.
Euronet processed approximately 323 million transactions during the third quarter 2007. |
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| September |
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Euronet launches prepaid operations in India to provide processing services primarily for prepaid mobile airtime to the organized retail segment. |
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| July |
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Euronet’s German prepaid subsidiary, Transact, signs exclusive multi-country electronic top-up agreement with Media Markt, Europe’s largest retailer for consumer electronics. This is the first time Media Markt is offering electronic prepaid top-up solutions across its entire retail store base in 14 countries across Europe.
Euronet’s global money transfer subsidiary, RIA Envia, Inc. (RIA), significantly expands its payout network in Poland by signing a correspondent agent agreement with Bank Pocztowy (Post Bank). This agreement adds nearly 8,000 payout locations to RIA’s payout network in Poland.
Euronet processed approximately 311 million transactions during the second quarter 2007. |
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| June |
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Euronet expands its ATM outsourcing agreement with China Postal Savings Bank, the fifth largest financial institution in China, for 721 new ATMs. This agreement followed a successful initial pilot ATM project managed by Euronet for the bank. The assessment of the initial pilot project indicated significant benefits experienced by China Postal Bank including an increase in transaction volumes, improved uptime, superior branding and efficiency of the new ATMs deployed and managed by Euronet.
Euronet appoints Kevin J. Caponecchi as President of the Company. Mr. Caponecchi will be responsible for the strategic and operational leadership of Euronet's EFT and Prepaid Processing business segments on a global basis. Prior to his appointment as President of Euronet, Mr. Caponecchi served as president of GE Transportation’s Global Signaling business |
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| May |
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Euronet’s global money transfer subsidiary, RIA Envia, Inc. (RIA), announced an agreement with Banco Nacional de Mexico, S.A. (Banamex) to send money transfers to Mexico through the Banamex network. Banamex, a unit of Citigroup, is the premier financial institution in Mexico.
Euronet was ranked 10 in The Kansas City Star’s STAR 50, an evaluation of the leading public traded businesses in Kansas and Missouri. The STAR 50 rankings are based on six categories, revenues, year-over-year revenue growth, net income, year-over-year income growth, market capitalization and year-over-year growth in market cap. Euronet also ranked eighth best in income growth with a 107% growth rate. |
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| April |
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Euronet completes the acquisition of RIA Envia, Inc., establishing themselves as the third- largest global money transfer company.
Euronet processed approximately 270 million transactions during the first quarter 2007. |
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| March |
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Euronet signs its first Single Euro Payments Area (SEPA) compliant cross-border merchant acquiring agreement in Central and Eastern Europe with OMV Refining & Marketing GmbH (OMV), the leading oil and gas group in Central Europe and Austria’s largest listed industrial company. Under the multi-year agreement, Euronet will facilitate the migration of OMV's decentralized acquiring operations at filling stations, including several third-party service providers in 12 countries, to Euronet's single central SEPA compliant processing platform. |
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| February |
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Euronet was ranked number seven on Forbes Magazine’s list of 25 fastest-growing technology companies. Forbes’ 25 fastest-growing technology companies list evaluates total sales over the past 12 months, sales growth for five consecutive years and estimated annual profit growth for the next three to five years. Forbes evaluated 2,200 public U.S. technology stocks to select the 25 firms on their list.
Euronet announced the signing of a global master services agreement with Standard Chartered Bank (SCB), a leading international bank with an extensive network in over 50 countries. Euronet was selected by SCB to provide global ATM network services along with ATM and card management services to the Bank’s operations in Asia, Africa and the Middle East.
Euronet acquired Omega Logic Ltd. (“Omega Logic”), a prepaid top-up company based, and primarily operating, in the U.K. Omega Logic’s core business is the sale of mobile top-up minutes through a retailer’s integrated Electronic Cash Registers (ECR). The acquisition of Omega Logic consolidates Euronet’s position as the largest electronic payments processor of prepaid mobile airtime top-up services in the UK.
Euronet processed 922 million transactions for the full year 2006 and 260 million transactions during the fourth quarter 2006.
Euronet’s German prepaid subsidiary, Transact, announced an exclusive electronic top-up agreement with Premiere Fernsehen GmbH & Co. KG ("Premiere") for its new prepaid pay TV product, PREMIERE FLEX. Premiere is a leading pay TV operator in Germany and Austria. Under the agreement, Transact will offer its convenient e-top-up service for Premiere’s prepaid pay TV product exclusively through its retail partners. |
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| January |
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Euronet announced the completed acquisition of Brodos Romania SRL, a leading electronic prepaid mobile airtime processor in Romania. This acquisition marks the entry of Euronet into the Romanian prepaid market. |
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