In my previous post, I mentioned NeraTel is selling its payment solution business (How Will Sale of NeraTel Payment Solution Business Impact Me). On 31st August 2016, NeraTel has officially announced it has completed the sale of its payment business to Ingenico Group.
The completion of sale announcement was made a month after NeraTel reported a 3.5% decline in gross profit from 15.9 million to 15.3 million YOY. The turnover for Payment Solutions business area has declined 52.1% ($6.5 million) YOY from $12.5 million to $6.0 million for the quarter and 44.3% ($10.3 million) YOY from $23.2 million to $12.9 million for 1H 2016. (more…)