BankTech

Payments Industry Mergers & Acquisitions Half-Yearly Update, July-Dec 2013

MEDICI

[caption id="attachment_4647" align="alignnone" width="673"]payment industry Payments Industry M&A Half-Yearly Update, July-Dec, 2013[/caption]

fa teamToday, in the age of technology, disruptive innovation is happening in the payments industry at the cusp of Banking, Retail, Money, Technology and Advertising industries. Cashless transactions have become the talk of the town with several new companies entering into this industry every day to become a part of the growth story. Payments Industry M&A remained quite active across different classes of investors.

Second half of 2013 saw some big acquisitions in this space by PE firms. For e.g. CVC Capital Partners’s $600m acquisition of online payment player Skrill Holdings Limited; and Bain Capital LLC and Advent International Corporation’s acquisition of UK based Worldpay Limited, a transaction processing company.

In the last six months of CY2013, 54 M&A deals happened across 25 countries with a total disclosed value of $2,836m. Of these 23 deals took place in Americas, 18 in Europe,11 in Asia Pacific, and 2 in Africa. 33 transactions were domestic and 21 were cross border acquisitions.

This article consists of 5 months (July, Aug, Sep, Oct, and Nov) of data and analysis while the month of December can be accessed in the following link Payment Industry M&A Monthly Update, December 2013

M&As in payment industry: July– Nov 2013 

(Also read the Rationale behind each deal, at the end of this table)

Date Target (HQ) Target description Bidder (HQ) Deal value (U$ Mn)
29/11/13 BTI Payments Private Limited (India) Provides payments gateway services including ATM managed services, POS deployment and processing services ICICI Ventures: India Advantage Fund Series 3 (India)

22

27/11/13 Worldpay Limited (UK) Provides a globally connected, locally coordinated payment processing service for big and small businesses Bain Capital LLC; Advent International Corporation (US; US)

261

27/11/13 Aprisma Indonesia PT (Indonesia) Offers transaction-based software platform and provides solutions in the field ofonline- and mobile banking, mobile tokenization tools, and online payment Wirecard AG (Germany)

120

26/11/13 Prizm Payment Services Private Limited (India) Provides end to end Electronic Payment Services across various channels including ATMs, POS, M-POS, and Emerging Payments to banks and financial institutions in India Hitachi Ltd (Japan)

n.a.

06/11/13 Portmone LLC (Ukraine) Provides online payment system and services which allows clients to make payments with their credit and debit cards. Company offers a wide variety of payment options (gateways) for clients Including its web-site, banks’ web-sites, billers’ web-sites, mobile devices, ATMs, and other Europe Virgin Fund L.P (Ukraine)

n.a.

06/11/13 nCourt LLC (US) Provides online and by phone payment solutions for municipal and county courts. The company serves more than 2,000 government partners across the US by providing payment options for traffic citations, property taxes, utilities and court fines, among other services Mainsail Partners (US)

n.a.

31/10/13 Southern View Finance Ltd (Bermuda) Offers mobile banking and money transfer facilities Capital Partners Group Holding Limited (Luxembourg,Mauritius)

19

29/10/13 Perka Inc. (US) Provides smart-phone-based loyalty programs that merchants can offer to their customers Including the Perka Punchcard and Perka Flexpoints for retailers and sit-down restaurants First Data Corporation (US)

30

28/10/13 Threshold Financial Technologies Inc. (Canada) Provides outsourced transaction switching and processing, automated banking machine (ABM) management, EFT processing and ATM solutions DirectCash Payments Inc. (Canada)

50

28/10/13 Coiney Inc. (Japan) Provides mobile payments processing solutions using swipe card readers for smartphones Innovation Network Corporation of Japan (Japan)

8

22/10/13 FLASHiZ (Luxembourg) Provides mobile payment solutions using both QR codes and NFC to enable consumers to pay in shops, online, make peer-to-peer transfers and pay paper invoices FEXCO; BNP Paribas Personal Finance (France; Ireland (Republic))

n.a.

21/10/13 InteliSpend Prepaid Solutions LLC (US) Offers business-to-business reward solutions for corporate incentive and consumer promotions programs Blackhawk Network Holdings Inc. (US)

n.a.

18/10/13 Billpay GmbH (Germany) Offers online retailers payment options. Online retailers can offer billpay with their customers to pay by invoice, payment in installments or by direct debit, without any risk of default WDFC UK Limited (UK)

n.a.

17/10/13 Monitise Asia Pacific Limited (Hong Kong) Provides mobile banking, payments and commerce networks services Monitise Plc (UK)

18

16/10/13 Sybrin Systems (Pty) Ltd (South Africa) Provides payment solutions with particular emphasis in voucher processing solutions, automated clearing house solutions, mobile commerce solutions, host banking enhancement solutions, KYC solutions, Day 2 solutions and EFT solutions. EOH Holdings (South Africa)

n.a.

16/10/13 Intellectual Capital Management Inc. (US) Provides SMS based mobile loyalty solutions primarily to small and medium sized businesses The SpendSmart Payments Company (US)

10

10/10/13 UCF Huisheng Investment (HK) Co. Limited (Hong Kong) Provision of online third-party payment services and prepaid card issuance business in China Credit China Holdings Limited (China)

37

10/10/13 Provus Bilisim Hizmetleri A.S (Turkey) Provides payment solution and processing, issuer and acquirer processing, ATM management and prepaid solutions to financial institutions and retailers MasterCard Incorporated (US)

n.a.

09/10/13 Platron (Russia) Provides electronic funds transfers and cash payments services Ocean Bank CJSC (Russia)

n.a.

07/10/13 Avangate B.V. (Netherlands) Provides web eCommerce solutions for software businesses Francisco Partners LP (US)

n.a.

04/10/13 GHL Systems Bhd (Malaysia) Provides online transaction services and develops in house software programs Cycas (Mauritius)

12

03/10/13 Think Corp. (Japan) Develops payment system software Ryobi Systems Co Ltd (Japan)

n.a.

01/10/13 uProfit Payments (US) Offers payment processing services with customized solutions Intrix Technology Inc (US)

n.a.

30/09/13 Leaf Holdings Inc. (US) Offers a tablet designed for accepting payments and develops mobile payment application Heartland Payment Systems Inc. (US)

20

26/09/13 Realtime Electronic Payments (REPAY) (US) Provides electronic transaction processing services for retail merchants, offering a comprehensive line of solutions that include credit and debit cards, ACH, bank account verification, electronic bill payment and instant funding New Capital Partners (US)

n.a.

26/09/13 Braintree Payment Solutions LLC. (US) Provides credit card payment processing solutions for businesses PayPal Inc. (US)

800

25/09/13 Century Payments Inc (US) Provides merchant payment services Worldpay US Inc. (US)

n.a.

25/09/13 Merchant Transact (US) Provides merchant services for credit card and electronic check processing. Merchant Transact's Boomerang Payment Processing Software integrates those payments directly into the accounting software, which reduces costs, processing time, and errors Springbrook Software (US)

n.a.

24/09/13 Beijing Gaoyangjiexun Information Technology Co. Ltd (China) Providesonline payment solutions, IT services business and Value-added telecom services Gohigh Data Networks Technology Co Ltd (China)

98

23/09/13 Official Payments Holdings Inc. (US) Provides electronic payment solutions for the US Internal Revenue Service (IRS), state governments, the District of Columbia, local and municipal government agencies, colleges and universities, and other public and private interests in all 50 states ACI Worldwide Inc. (US)

99

19/09/13 MoneyGlobe Payment Institution S.A. (Greece) Provides cash-to-account money transfers from Greece to Bangladesh MoneyGram International Incorporated (US)

n.a.

19/09/13 Advanced Chrono Cash Services SA (Greece) Offers electronic money transfer services in Greece. ACCS has been a MoneyGram agent since 2003, and has now grown to more than 400 locations with a loyal base of retail agents MoneyGram International Incorporated (US)

n.a.

18/09/13 Network Merchants LLC (US) Provides e-commerce payment gateways solutions and value-added services Bregal Sagemount (US)

100

12/09/13 PaymentLink Pte Ltd (Singapore) Provides PoS infrastructure as well as payment and technology services, mainly for banks and financial service providers. Operates one of the largest payment networks for local contactless payment cards and is also one of the leading domestic acquiring processors and distributor of local prepaid cards Wirecard AG (Germany)

41

12/09/13 Prestaciones Universales, S.A. De C.V. (Mexico) Engaged in marketing and processing electronic cards prepaid solutions C.D. Holding Internationale SAS (France)

n.a.

11/09/13 BluePay Inc. (US) Leading provider of technology-enabled payment processing services to merchants in the US and Canada TA Associates Management L.P. (US)

200

05/09/13 Syncada LLC (US) Offers payment automation solutions to businesses and banks. The company, through its financial supply chain network, provides solutions for automating payment processes to manage freight payments, payables and receivables process, utility payments, and cash flow management US Bancorp (US)

n.a.

04/09/13 Monitise Create Limited (Grapple Mobile Ltd) (UK) A mobile innovation and design agency delivering smartphone and tablet solutions for leading European brands including Whitbread, Procter & Gamble, Sky and B&Q Monitise Plc (UK)

26

30/08/13 RS2 Software (Malta) Publicly listed company specialising in software that enables quick and secure payment Barclays Bank Plc (UK)

8

30/08/13 Paymetric Inc. (US) Provides SaaS-based enterprise security and integrated payment acceptance solutions that enable companies to streamline the order-to-cash process, reduce the scope and financial burden of achieving PCI compliance and improve return on electronic payment acceptance Francisco Partners LP (US)

n.a.

28/08/13 Coiney Inc (Japan) Provides mobile payments solutions using swipe card readers for smartphones Credit Saison Co Ltd (Japan)

5

27/08/13 fine trade gmbh (Austria) Provides e-commerce trading solution with payment options DOCOMO Deutschland GmbH (Germany)

n.a.

23/08/13 Jetpay Corporation (US) Provides vertically integrated solutions for businesses including card acceptance, processing, payroll, payroll tax filing and other financial transactions Flexpoint Ford LLC (US)

40

20/08/13 Simplex GTP Limited (UK) Provides cloud based services to financial messaging and reconciliation businesses Bottomline Technologies Ltd (UK)

5

20/08/13 Sterci S.A. (Switzerland) Provides financial messaging products and services Bottomline Technologies Ltd (UK)

104

19/08/13 Skrill Holdings Limited (UK) Provider of online payment solutions to conveniently and securely transfer money. The company provides the ability to quickly deposit or withdraw money via an international payment network CVC Capital Partners Limited (UK)

600

18/08/13 InnesFarm Inc. (GiftWorks) (US) Creates smart fundraising software and services that provides fundraising and donor management solutions to the nonprofit organizations FrontStream Payments Inc. (US)

n.a.

16/08/13 Artez Interactive Inc. (Canada) Provides online, social and mobile fundraising solutions to nonprofit organizations FrontStream Payments Inc. (US)

n.a.

07/08/13 Paycorp Holdings (Pty) Ltd (South Africa) Payments services group working across all major payments streams which includes ATM, card issuing and merchant services Actis LLP (UK)

95

31/07/13 Nexxo Financial Corporation (Kiosk based retail money transfer business) (US) Provides kiosk-based retail money transfer and bill payment solutions MoneyGram International Incorporated (US)

n.a.

25/07/13 Element Payment Services Inc. (US) Provides payment processing solutions for merchants, franchisers and business management software providers Vantiv Inc. (US)

n.a.

25/07/13 Emmecom Srl (Italy) Engaged in fixed, mobile and satellite telecommunications networks SIA S.p.A. (Italy)

n.a.

12/07/13 Globex Financial Services Inc. (US) One of the largest money order, bill payment and prepaid wireless companies operating through thousands of retail locations in the U.S TIO Networks Corp (Canada)

8

10/07/13 Asoft4Solutions (Serbia) IT software company specialising in sale, installation and maintenance in total outsourcing of POS, ATM and self-service kiosks Bassilichi S.p.A. (Italy)

n.a.

Notes - Date is announcement date of the transaction; Source: Company press releases and Financial Databases

Acquisition rationale

  • ICICI Ventures: India Advantage Fund Series 3 acquiring BTI Payments Private Limited:ICICI Ventures, through its India Advantage Fund Series III invested $22m in BTI Payments for c.30% stake. The proceeds along with capital infusion of $28m from Banktech will be utilized by BTI Payments to set up over 10,000 white label ATMs in India over the next four years. BTI currently owns and operates more than 6,500 POS terminals and 500+ ATMs for a growing number of respected banks. Deal value (U$ Mn) = 22 
  • Bain Capital LLC; Advent International Corporation acquiring Worldpay Limited: RBS sold its 19.99% stake in Worldpay to Advent International Corp. and Bain Capital in a “win-win” deal based on Advent International and Bain Capital’s interest in WorldPay and the RBS’s desire to divest its shares as WorldPay was a nonessential business that was not core to the bank’s activities.Deal value (U$ Mn) = 261 
  • Wirecard AG acquiring Aprisma Indonesia PT: Wirecard AG acquired Aprisma Indonesia PT in an attempt to expand its wings in Asian region. Strategically Wirecard is planning to internationalize its value added services throughout Asia and to adopt in particular the mobile applications as value added services for the European market. Deal value (U$ Mn) = 120 
  • Hitachi Ltd acquiring Prizm Payment Services Pvt. Ltd: Hitachi acquired Prizm Payment with the aim of accelerating global development of IT services businesses targeting financial institutions Including ATMs where it has the top share in the Japanese market. By leveraging Prizm Payment Services' customer base of major financial institutions, and know-how of payment systems, cash operations and management systems for financial institutions, and other expertise, Hitachi will step up development of IT services businessin India and globally. The transaction is in line with Hitachi’s growth strategy in India and will help it to expand its business in the country's financial sector 
  • Europe Virgin Fund L.P acquiring Portmone LLC: EVF acquired 50% Stake in Portmone as it believes that Portmone.com has substantial growth potential, which is to be fueled by a rapid expansion of the country’s online and mobile payments market. The company has established itself as the largest independent online payments system in Ukraine, serving over a million of active users 
  • Mainsail Partners acquiring nCourt LLC: Mainsail Partners (growth equity firm focused on investing in fast-growing bootstrapped businesses) acquired nCourt LLC. Capital will be used to support expansion opportunities and pursue acquisitions. This acquisition will enable nCourt to expand its footprints in transaction processing sector and enhance its sales and marketing capabilities 
  • Capital Partners Group Holding Limited acquiring Southern View Finance Ltd: Capital Partners Group acquired 85.02% stake in Southern View Finance Ltd. The capital infusion by Capital Partners will be used by Souther View Finance to grow its business and expand its operations. Deal value (U$ Mn) = 19 
  • First Data Corporation acquiring Perka Inc: First Data Corporation (payment card processor)’s acquisition of Perka Inc. is in line with company’s strategy to grow revenues through acquisitions of promising start-ups. This acquisition will enable First Data’s customers to upgrade their old school credit card terminals. Deal value (U$ Mn) = 30 
  • DirectCash Payments Inc. acquiring Threshold Financial Technologies Inc: DirectCash Payments’ acquisition of Threshold Financial Technologies will strengthen DirectCash's position in the payments processing business. The transaction will provide incremental operational leverage and will add 1,475 retail non-bank ATMs and 1,100 financial institution ATMs. Deal value (U$ Mn) = 50 
  • Innovation Network Corporation of Japan acquiring Coiney Inc: Innovation Network Corporation of Japan (the country’s state-run investment fund which promotes emerging technology businesses) acquired 20% stake in Coiney Inc. This transaction will enable Coiney to expand its domestic business network and improve the quality of it service. Deal value (U$ Mn) = 8 
  • FEXCO; BNP Paribas Personal Finance acquiring FLASHiZ: The acquisition is line with the strategy of FEXCO to establish FLASHiZ as a worldwide market leader in the area of mobile payment solutions 
  • Blackhawk Network Holdings Inc. acquiring InteliSpend Prepaid SolutionsLLC: The acquisition of InteliSpend will provide Blackhawk Network an entry into complementary corporate incentives and consumer promotions channels, and it will be able to bring exciting new digital solutions into the corporate incentives industry in the U.S. and internationally, adding even more value for both InteliSpend’s business customers and Blackhawk’s content partners. Blackhawk will combine its international and digital business with InteliSpend’s incentives business and restricted authorization network technology 
  • WDFC UK Limited acquiring Billpay GmbH: WDFC acquired Billpay to expand its business in the international broad-based, digital markets 
  • Monitise Plc acquiring Monitise Asia Pacific Limited: Monitise plc acquired full ownership of Monitise Asia Pacific Limited its 50:50 JV with First Eastern Mobile Investments Limited ( Hong Kong-based investment group controlled by Victor Chu). Through this acquisition, Monitise aims to streamline and simplify the international structure of its global business. Deal value (U$ Mn) = 18, EV/Sales = 36.3 
  • EOH Holdings acquiring Sybrin Systems (Pty) Ltd: EOH Holdings acquired Sybrin to enhance EOH’s products and expand its presence into the rest of the continent 
  • The SpendSmart Payments Company acquiring Intellectual Capital Management Inc: With this transaction, SpendSmart aims to leverage SMS Masterminds’ retail merchant network to promote existing and new prepaid card programs. This acquisition will enhance SpendSmart’s ability to deliver a suite of products, services and marketing channels to both sides of the payments cycle - cardholders and merchants. In the immediate and near term, company expects to benefit from high-margin recurring revenues and the opportunity to offer its SpendSmart cards to SMS Masterminds' 1.2 million subscribers as well as driving additional in-store sales and customer loyalty for SMS merchants. Deal value (U$ Mn) = 10, EV/Sales = 3.9 
  • Credit China Holdings Limited acquiring UCF Huisheng Investment (HK) Co. Limited: Credit China Holdings Limited acquired UCF Huisheng Investment to expand into the online third-party payment services and prepaid card issuance business in China and thusdiversifies its existing business portfolio and broaden its source of income. Deal value (U$ Mn) = 37, EV/Sales = 13.5 
  • MasterCard Incorporated acquiring Provus Bilisim Hizmetleri A.S: The acquisition will enable MasterCard to expand its presence in high-growth markets and deliver superior processing solutions and innovative value added services for both financial institutions and customer in the emerging prepaid and mobile payments space 
  • Ocean Bank CJSC acquiring Platron: Ocean Bank acquired 100% stake in Platron. The deal creates a payment gatewaywhich is implemented as technology queuing ROBOKASSA (service, that allows online stores to receive payments by plastic cards, in every e-currency, using mobile commerce services), and individuals acquiring Platron services for the most popular and fastest growing e-commerce industries 
  • Francisco Partners LP acquiring Avangate B.V.: The acquisition will enable Avangate to enhance its product development and support the company's expansion into locales such as Brazil and Eastern Europe. Avangate will be able to execute on its vision of delivering customer-centric commerce and capitalizing on the growing e-commerce space 
  • Cycas acquiring GHL Systems Bhd: Cycas (strategic investor) acquired 32.44% stake in GHL Systems Bhd. The transaction will provide GHL to finance the acquisition of EPY (to expand its electronic payment business) and related expenses, and meet the working capital requirements of GHL. Deal value (U$ Mn) = 12, EV/Sales = 1.7, EV/EBITDA = 9.9, EV/EBIT = 27.1 
  • Ryobi Systems Co Ltd acquiring Think Corp: Ryobi Systems acquired 80% stake in Think Corp to expand its data-center business and its customer base with Think Corp's products 
  • Intrix Technology Inc. acquiring uProfit Payments: With the acquisition, uProfit Payments’ merchants and agents will be able to take advantage of the wide range of secure processing solutions offered by Intrix and its dedicated support teams. Intrix can now bring its resources, capabilities and technology to the uProfit Payments agents to increase their revenue, and to provide their merchants with access tointegrated payment and billing solutions with accounting applications and enterprise level software for a more streamlined payment process for their clients 
  • Heartland Payment Systems Inc. acquiring Leaf Holdings Inc: Heartland Payment acquired 66.67% stake in Leaf Holdings. The funding will accelerate Leaf’s mission to provide a unified, open commerce platform, which includes the LeafPresenter tabletand services such as its LeafBusiness portal and the Leaf Appstore. Heartland has also joined Leaf's network of distribution partners, and will build Leaf apps for payroll, mobile and online purchasing. Deal value (U$ Mn) = 20 
  • New Capital Partners acquiring Realtime Electronic Payments (REPAY): New Capital Partners invested in Realtime Electronic Payments(REPAY) as REPAY is one of the fastest growing companies in the US, currently ranked #330 on the 2012 Inc. 500 list. REPAY’s management team has proven to be successful on several levels since inception by focusing on sales, risk mitigation, merchant support and utilization of its proprietary software platform. REPAY currently processes for more than 5,000 merchant locations across all product lines 
  • PayPal Inc. acquiring Braintree Payment Solutions LLC: The transaction will enable PayPal to accelerate and expand its business in mobile payments. It will also help them to enter into new markets in a very quick succession and with lot of confidence. The expertise and developers of Braintree will be an added advantage for PayPal’s in terms of creating innovative solutions for next generation commerce start-ups. Deal value (U$ Mn) = 800 
  • Worldpay US Inc. acquiring Century Payments Inc: With this acquisition, WorldPay US will strengthen its strategic partnership model and gain advanced sales tools and analytics. Combining these two world-class businesses allows Worldpay to leverage the considerable strengths of both organizations to the benefit of their clients and further strengthens both its competitive positioning and overall value proposition. The acquisition of Century Payments is in line with the strategy of WorldPay to acquire companies engaged in payment processing services sector 
  • Springbrook Software acquiring Merchant Transact: Springbrook Software acquired Merchant Transact as bringing the merchant processing operations and technology in house will make Springbrook a dominant full-service provider in this industry. The tight integration of payments and citizen services will give company a competitive edge that 'payment only competitors will not be able to match 
  • Gohigh Data Networks Technology Co Ltd acquiring Beijing Gaoyangjiexun Information Technology Co. Ltd: Gohigh Data Networks acquired 63.65% stake in Beijing Gaoyangjiexun Information Technology Co. This transaction is in line with Gohigh Data Networks Technology's business strategy to achieve rapid growth of information service business and realize a vertical expansion of its industrial chain. Deal value (U$ Mn) = 98, EV/Sales = 5.3, EV/EBIT = 22.4 
  • ACI Worldwide Inc. acquiring Official Payments Holdings Inc: The acquisition is in line with ACI’s strategy to provide a complete set of end-to-end payments services, all enabled by its Universal Payments Platform. This provides the opportunity to develop new capabilities previously unmet in the rapidly growing EBPP sector. Deal value (U$ Mn) = 99, EV/Sales = 0.7 
  • MoneyGram International Incorporated acquiring MoneyGlobe Payment Institution S.A: Acquisition of MoneyGlobe will enable MoneyGram to offer a technology-driven solution that meets the unique needs of consumers in Greece and capture new opportunities in this important market. This acquisition is important to MoneyGram's offerings to customers in Greece and draw upon the company's strategy to invest in products and services that enhance operations and provide increased convenience for customers 
  • MoneyGram International Incorporated acquiring Advanced Chrono Cash Services SA: By acquiring Advanced Chrono Cash Services SA, MoneyGram International will now be able to continue to expand the network directly in partnership with its agents who serve company’s consumers every day. These acquisitions are important to MoneyGram's offerings to customers in Greece and draw upon the company's strategy to invest in products and services that enhance operations and provide increased convenience for customers 
  • Bregal Sagemount acquiring Network Merchants LLC: Through this transaction, Network aims to get funds to expand its product suite and market footprint to further serve its affiliate partners. Deal value (U$ Mn) = 100 
  • Wirecard AG acquiring PaymentLink Pte Ltd: The acquisition will enable Wirecard to strengthen its presence in South-East Asia and also enhance its service portfolio for both international merchants and domestic market. This divestment will allow Korvac to focus on its national payment networks as well as to Intellectual Property creation in the financial services sector. Deal value (U$ Mn) = 41 
  • C.D. Holding Internationale SAS acquiring Prestaciones Universales, S.A. De C.V: Holding Monex SAB de CV together with its affiliate, sold 100% stake in its subsidiary, Prestaciones Universales SA de CV, to CD Holding Internationale SAS. The transaction is in line with Holding Monex's plan to focus its efforts on financial business 
  • TA Associates Management L.P. acquiring BluePay Inc: TA Associates (PE firm) acquired a majority stake in BluePay Processing as BluePay’s merchant base and processing volumes have grown rapidly as it developed new functionality for its payment acceptance platform and forged integrated payment relationships with hundreds of third-party software providers and developers. Today, more than half of BluePay’s revenues are generated through integrated payment channels, and TA Associates expect this part of the business to continue its rapid growth. Deal value (U$ Mn) = 200 
  • US Bancorp acquiring Syncada LLC: U.S. Bancorp took over additional 50% stake in the supply chain processing network JV, Syncada, it formerly shared with Visa. According to Visa, “the payables marketplace has evolved since Syncada was established … and [Visa] believe[s] the company will be best positioned for growth as a wholly-owned entity under US Bank”. This strategic move demonstrates the US Bancorp's commitment to the freight payment business 
  • Monitise Plc acquiring Monitise Create Limited (Grapple Mobile Ltd): The acquisition of Grapple complements Monitise’s globally-recognised capabilities in creating, deploying and running intuitive, cutting-edge, and bank-grade mobile solutions for and with some of the world’s leading financial institutions, payment companies, network operators and technology businesses such as Visa, Telefónica, IBM, RBS, Lloyds, Cognizant and CGI. Deal value (U$ Mn) = 26 
  • Barclays Bank Plc acquiring RS2 Software: Barclays acquired 10% stake in RS2 Software. Barclays plans to acquire up to 20% of RS2 stock as well as other shares listed on the Malta Stock Exchange. Deal value (U$ Mn) = 8 
  • Francisco Partners LP acquiring Paymetric Inc: Francisco Partners (a global technology-focused PE firm) made majority investment in Paymetric Inc. The acquisition will enable Paymetric to capitalize on its current momentum and continue to drive product innovation and global expansion 
  • Credit Saison Co Ltd acquiring Coiney Inc: Credit Saison acquired Coiney Inc.  with an aim to expand its smart phone payment business. Deal value (U$ Mn) = 5 
  • DOCOMO Deutschland GmbH acquiring fine trade gmbh: Through the acquisition, DOCOMO will expand its portfolio of finance and payment platform businesses in Europe, currently focused on the digital content market, to include the online retail market for consumer goods 
  • Flexpoint Ford LLC acquiring Jetpay Corporation: Flexpoint Ford (PE firm focused on the financial services and healthcare sectors) invested in the company through the purchase of Series A convertible preferred stock. This investment will be used to retire up to $16 million of currently outstanding debt with the remainder available to invest in the company’s growth and expansion its business. Deal value (U$ Mn) = 40 
  • Bottomline Technologies Ltd. acquiring Simplex GTP Limited: Bottomline Technologies acquired 49.01% Stake in Simplex GTP. This acquisition will extend Bottomline Technologies’ presence in Europe and further build on its core expertise in banking, payments and financial transactions, enabling Bottomline to offer its clients a broader suite of solutions to improve their operating efficiency and optimize their financial transactions. For Simplex, this acquisition will enable it to further support and grow its client base. Deal value (U$ Mn) = 5 
  • Bottomline Technologies Ltd. acquiring Sterci S.A: This acquisition will extend Bottomline Technologies’ presence in Europe and further build on its core expertise in banking, payments and financial transactions, enabling Bottomline to offer its clients a broader suite of solutions to improve their operating efficiency and optimize their financial transactions. This acquisition will help Sterci to continue to expand the financial messaging business globally. Deal value (U$ Mn) = 104 
  • CVC Capital Partners Limited acquiring Skrill Holdings Limited: CVC Capital Partners (PE firm) acquired 75% Stake in Skrill Holdings Limited. With this acquisition, Skrill aims to become the first pick for payments on global basis with the support from CVC’s global exposure and experience. Deal value (U$ Mn) = 600, EV/Sales = 3, EV/EBITDA = 12 
  • FrontStream Payments Inc. acquiring InnesFarm Inc. (GiftWorks): The acquisition is in line with FrontStream’s strategy to expand and increase its presence in the US market thereby enhancing its customer base. Also, the acquisition will enable InnesFarm to create a faultless integration solutions and develop its fundraising management tools and services 
  • FrontStream Payments Inc. acquiring Artez Interactive Inc: The acquisition will enable FrontStream to expand its footprint in the domestic and international markets and thereby provide fundraising and donation processing solutions to the nonprofit organizations in the U.S., Canada, Australian and European regions 
  • Actis LLP acquiring Paycorp Holdings (Pty) Ltd: Actis (a global PE firm) acquired majority stake in Paycorp Holdings. Actis’s investment in Paycorp is a strategic development that will give Paycorp valuable alliances with other global payment players. Company see great potential to leverage insights and expertise from other emerging markets and extend its footprint even further afield. Deal value (U$ Mn) = 95 
  • MoneyGram International Incorporated acquiring Nexxo Financial Corporation (Kiosk based retail money transfer business): Moneygram purchased Nexxo’s kiosk and retail branch footprint of approximately 200 locations in California, Texas, Illinois and New York along with the associated money transfer and bill payment transactions. By acquiring these assets, Moneygram took a leap forward in its go-to-market strategy with flexible self-service solutions for its agents and consumers. These kiosks will provide a convenient way for retailers to effectively offer consumers financial products and maintain focus on their core business 
  • Vantiv Inc. acquiring Element Payment Services Inc: The acquisition gives Vantiv access to Element's market-leading technological capabilities, such as point-to-point encryption (P2PE), tokenization and TriPOS™ Chip & PIN. Combined with Vantiv's scale and breadth of distribution, these capabilities will create a compelling value proposition for software vendors and their clients seeking state-of-the-art payment processing solutions. Element’s well established Independent Software Vendor (ISV) partner business model, channel management expertise and proven track record of delivering innovation will allow Vantiv to significantly increase its presence in the fast growing integrated payments channel and penetrate numerous high-growth verticals 
  • SIA S.p.A. acquiring Emmecom Srl: SIA S.p.A. acquired 52% stake in Emmecom. The acquisition will enable SIA to develop and launch network services for remote monitoring based on machine to machine technology, It will also lead to further growth and expansion in cards markets and connectivity services 
  • TIO Networks Corp acquiring Globex Financial Services Inc: The acquisition of Globex Financial Services transforms TIO’s position in the payments industry and significantly expands and diversifies TIO’s customer base, geographic reach and product offerings. Globex significantly expands TIO’s capabilities as it provides TIO with a suite of walk-up financial services, Money Transmitter Licenses in 14 states and innovative mobile web payment programs and payment processing capabilities for the rental housing industry. From a customer perspective, Globex adds a large stable of well-known and highly respected billers to TIO’s business. Deal value (U$ Mn) = 8, EV/Sales = 0.8 
  • Bassilichi S.p.A. acquiring Asoft4Solutions: Bassilichi S.p.A. acquired 80% stake in Asoft4Solutions to solidify its presence abroad and to seize new business opportunities in the field of payment systems

About FA team

FA team is a team of financial analysts setup to track payments & commerce industry. The team consists of CFAs and MBAs who have worked on supporting Top 10 and Mid-Market Investment Banks, PE firms and financial research agencies. The team has tracked more than 30,000 transactions since 1998 in the payment space

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