Euronet purchases Brodos Romania

Officials of the US-based company Euronet Worldwide yesterday said that they had entered the domestic prepaid service market through the acquisition of Brodos Romania, a provider of prepaid services for mobile telephones. “Brodos Romania allows us to enter the domestic prepaid service market through an already-settled presence. We plan to expand Brodos’ network so as to provide additional prepaid products to our clients from the retail segment,” said Michael Brown, the president of Euronet Worldwide, in a recent press release. Euronet representatives plan to develop the Romanian-based prepaid service company’s business in the near future. They estimate that approximately 70% of Romanians own mobile phones and that prepaid card users account for over 60% of the total of mobile phone owners. The Brodos Company was set up in 2001 and it specialises in the electronic processing of prepaid cards for mobile phones at POS terminals. It also provides electronic card recharge services through ATMs or through computers connected to the Internet and also sells prepaid cards for long-distance calls. The company has signed processing agreements with the major mobile phone operators in Romania, namely Orange and Vodafone. Brodos’ processing platform will be incorporated in Transact, the German branch of Euronet.