November 6 (SeeNews) - Italian business process outsourcing company Bassilichi Group said on Thursday it has acquired a 51% stake in Ars Blue, a Serbian company specialising in advance payment systems development.
Ars Blue's executive director and founder, Slobodan Paunovic, will stay on as a shareholder and director alongside Bassilichi Group's executive sales and marketing director Danilo Rivalta, the group said in a statement.
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The acquisition will allow Bassilichi Group to complete its range of electronic money transfer services as well as to increase the share of earnings from abroad in total earnings to 20% in 2015 from the current 5.0%.
Founded in Beglrade in 2009, Ars Blue employs 40.