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Cazador Acquisition Corporation merges with Net Element

Net Element and Cazador Acquisition Corporation have completed their merger.

03 October 2012

Net Element and Cazador Acquisition Corporation have merged their operations, the firms have revealed.

The new enterprise will be known as Net Element International and will trade on the NASDAQ from today (October 3rd) under the symbol NETE.

It will deal with payment processing and mobile commerce - as well as culture, internet and entertainment - in Russia and a number of emerging markets.

Factors including its extensive global network, global technology development facilities and high-level corporate relationships in the Commonwealth of Independent States (CIS) are predicted to lead the enterprise to expand in these markets.

Business negotiation techniques saw Kenges Rakishev appointed to the position of the company's chairman, while chief executive officer of the organisation shall be Francesco Piovanetti.

"Net Element International - with its extensive global network and high-level business dealings with Russia, Kazakhstan and other CIS countries - is ideally positioned to capitalise on the region's booming technology marketplace," Mr Rakishev pointed out.

Posted by David Gleck

Source: Net Element International press release, October 2nd

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