Nexi CEO Paolo Bertoluzzo had said when the SIA deal was announced on Oct. 4 that Nexi-SIA would be on the lookout for other deals to build a presence in key European markets. Nexi said combining the two groups, which last year had just over 1 billion euros in revenues each, would result in annual synergies of 150 million euros. The all-share deal structure comes with “long-term lock-up commitments” for Nets’ investors who cannot immediately cash out.

https://www.reuters.com/article/us-nets-m-a-nexi/italys-nexi-in-exclusive-talks-to-merge-with-nordic-rival-nets-idUSKBN27I0SM