Nets was acquired by Nexi in a 7.8 billion euros deal.
The transaction was an all-share deal that values Nets at €7.8 billion ($9.2 billion), including €1.8 billion of debt.
Nets shareholders will control 39% of the combined entity.
The transaction's rationale is creating the Europe’s biggest payments firm by volume in a quickly consolidating industry. The joint company will be Europe’s biggest payment business by volume, number of customers and earnings before interest, tax, depreciation and amortization. Netherlands based Adyen NA is the continent’s biggest payments company by market value.