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First Deal For Neovia - Ex Neteller

In an agreement that the rebranded (was Neteller) Neovia Financial plc says will create one of Europe's largest independent prepaid debit card businesses, Neovia has inked a deal to acquire IDT Corporation’s European Prepaid Payment Services Division for a total cash consideration of US$ 15.05 million (approximately GBP 10 million) to be satisfied out of existing cash resources.
 
Highlights of the agreement include:
 
* Agreement to purchase the entire issued share capital of IDT Financial Services Holdings Limited and certain other assets which together provide prepaid MasterCard products in the UK market under the IDT “Prime Card” brand.  

BodogLife Casino* Total cash consideration of US$ 15.05 million to be paid to IDT Corporation on completion – this includes US$ 10 million of banking regulatory capital.
 
* Key strategic acquisition for Neovia, adding new product lines and distribution based on the IDT Prime Card, accelerating the development of Neovia's prepaid Net+ card business and rapidly increasing the company’s active Neteller e-wallet customer base.
 
* In combination with Neovia's Net+ card services, the agreement creates one of Europe’s largest independent prepaid debit card businesses.
 
* Acquisition of IDTFS, which operates under a banking licence issued by the Gibraltar FSC, will allow development in the long term of additional financial services for Neovia’s consumer and merchant customers.
 
* Acquisition is conditional on Gibraltar FSC regulatory approval and MasterCard consent.
 
Commenting on the agreement, Ron Martin, President & Chief Executive Officer of Neovia, said: “The acquisition of IDT Finance represents a major milestone in the development of our financial services offering to both our consumers and merchants and in our overall strategy to diversify our business.  The integration of IDT Finance’s well-regarded prepaid debit card operation and banking licence will enable us to leverage our existing capabilities to offer additional products and services.  We welcome IDT Finance to Neovia and look forward to developing the full potential of the business as part of our broader strategic vision.”
 
Howard Jonas, Chairman of IDT Corporation, said that the acquisition would benefit consumers.  “Neovia’s considerable resources and expertise will expand the range of financial services available to IDTFS customers while nicely complementing Neovia’s existing capabilities.”



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NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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