PEManagers to invest in eCard

MCI EuroVentures, which is managed by PEManagers, has signed an agreement with TUW SKOK to acquire some stake at eCard, and eventually purchase all of the shares available in the market, a company press release read. "The goal of the investment is to aide the company in becoming a leader in the electronic payments market and the first choice settlement agent for e-commerce companies," the press release stated. The private equity fund has not revealed how much it is going to spend on the acquisition. TUW SKOK currently owns 88 percent of eCard's holding. In the first quarter of the year, eCard recorded a revenue totaled PLN 8.77 million.