March 26 (Reuters) - Mastercard is seeking to sell the real-time payments unit that it acquired from Denmark's Nets Group in 2019 for $3.2 billion, the Financial Times reported on Thursday, citing
Mastercard Explores Sale of Payments Unit Acquired From Nets for $3.2 Billion
Mastercard's Strategic Moves and Financial Developments
Potential Sale of Real-Time Payments Unit
March 26 (Reuters) - Mastercard is seeking to sell the real-time payments unit that it acquired from Denmark's Nets Group in 2019 for $3.2 billion, the Financial Times reported on Thursday, citing people familiar with the matter.
The potential sale, for which the credit card giant has hired investment bankers, could draw interest from private equity groups, the report said.
Valuation and Financial Performance
Mastercard is likely to fetch a lower valuation than the price it paid for the unit, which brings about $370 million in annual revenue and around $100 million of earnings before interest, taxes, depreciation and amortization, FT added.
Reuters could not independently verify the report. The company did not immediately respond to a request for comment.
Background of the Nets Acquisition
Mastercard in 2019 bought a majority stake in the corporate services businesses of Scandinavian payments group Nets, a transaction that included its clearing and instant payment services, as well as its e-billing solutions.
Mastercard's Broader Strategic Initiatives
Expansion into Blockchain and Stablecoin Infrastructure
The potential sale comes as Mastercard deepens its push into stablecoin infrastructure and blockchain-based transfers amid increasing regulatory clarity and surging usage.
Earlier this month, it agreed to acquire stablecoin infrastructure firm BVNK for up to $1.8 billion.
Refocusing Investment Priorities
The payment processor has been refocusing its investment priorities and earlier this year laid out plans to lay off about 4% of its workforce.
Recent Financial Performance
In January, Mastercard beat Wall Street expectations for fourth-quarter profit amid resilient spending as high earners continue to splurge on discretionary purchases despite concerns of economic uncertainty.
(Reporting by Prakhar Srivastava and Utkarsh Shetti in Bengaluru; Editing by Shailesh Kuber and Alan Barona)
