The announcement follows that released on October 5, 2020, when Nexi announced that it had agreed to merge with Italy-based SIA SpA. The potential combination of Nets and Nexi would establish a leading European player in the digital payments landscape, to serve as a "one-stop-shop" to a wide range of customers. The combined company would benefit from an expanded and diversified geographic reach, broader product and services portfolio, enhanced exposure to eCommerce and lower customer concentration.