Net Element International (Nasdaq: NETE) is acquiring Aptito, a cloud-based point of sale service.
Miami-based Aptito is used by restaurants. It allows restaurant staff to place orders from mobile phones and accept payments at the table.
Net Element plans to operate the company through TOT Group, its mobile payments and transaction processing holding company. TOT provides online and offline payment services. Clients include wireless carriers, content providers and merchants.
TOT will create a new subsidiary, which will assume $200,000 of Aptito’s debt. The seller will be issued 125,000 shares of the TOT subsidiary, along with a 20 percent equity interest in the company.
Other recent payments transactions include Net Element International’s (Nasdaq: NETE) purchase of payment-processing service Unified Payments, Spire Payments Holdings’ purchase of Thyron Payments Systems, a mobile payments company and Ogone’s acquisition of Tunz.com, an e-money issuer.
For more on payments M&A, see “The Buyside: Global Payments Signs Deal in Midst of Growing Competition.”