Neteller, the recently re-listed payments processor, has acquired a $4 million holding in Centricom Pty Ltd. (Centricom), a Melbourne-based e-commerce provider, in an effort to strengthen its presence in the Asia-Pacific region.
As part of the investment, what Neteller calls a "minority stake holding," the company will appoint one director to the Centricom board, the name of whom was not revealed.
"We are pleased to cement our existing relationship with Centricom through this investment," said Neteller chief executive Ron Martin. "We look forward to working with Centricom to drive the business through its next phase of growth."
Centricom managing director Simon Warner expects the partnership will significantly improve brand awareness for the company, which is backed by majority shareholder Jagen, a Melbourne-based international investment firm.
Centricom, launched in 2004, offers its proprietary payments solution, POLi, to residents of Australia, New Zealand and South Africa.
In late afternoon trading on the LSE, shares in Neteller were down 1.50p to 61.50.