Monday , July 16, 2018

Mergers & Acquisitions

May, 2018

  • 23 May

    Mitek Systems Buys France’s A2iA To Bolster Its Presence in Mobile Imaging

    Mitek Systems Inc. announced Wednesday that it acquired Paris-based Artificial Intelligence and Image Analysis (A2iA), a developer of text-recognition and imaging software, for €42.5 million ($49.8 million) in cash and stock. The move bolsters San Diego-based Mitek’s already strong position in the remote deposit capture market and gives it access …

  • 23 May

    First Data Buys Big Student-Loan Servicer’s Technology Platform

    Payment card processor First Data Corp. is getting into student-loan processing with its acquisition of Navient Corp.’s technology platform. Terms of the deal announced Wednesday were not revealed. An undisclosed number of Navient employees will become First Data employees, and Jeff Whorley, who has been group president of asset management …

  • 21 May

    Worldpay Shoots to Top U.S. Merchant Acquirer Spot As Integrated Software Model Takes Over

    What do you get when you add 4 and 11? In the case of Worldpay Inc., it’s 1. The merged version of the former Vantiv Inc. and Worldpay plc moved to the number-one position in The Strawhecker Group’s annual directory of U.S. merchant acquirers. Released Monday, the directory ranks industry …

  • 17 May

    PayPal Is Buying Sweden’s iZettle for $2.2 Billion

    In its biggest acquisition yet, PayPal Holdings Inc. is buying Stockholm-based payments firm iZettle AB for $2.2 billion. The San Jose, Calif.-based online payments provider late Thursday confirmed an afternoon of rumors about the pending deal. Jacob de Geer, iZettle’s chief executive and co-founder, will stay on after the acquisition’s …

  • 16 May

    Payment Processor Spindle Cancels an Acquisition, But Rents the Target Company’s CEO

    The struggling merchant processor Spindle Inc. canceled its planned acquisition of independent sales organization and gateway provider VyaPay, but reported Wednesday that it plans to form a so-called strategic alliance with VyaPay, and VyaPay’s chief executive will provide day-to-day management of Spindle. Mesa, Ariz.-based Spindle, whose shares trade over the …

  • 14 May

    Payroll Firm ADP Adds Multiple Payment Options in its Wisely Pay Service

    Payroll giant ADP LLC launched its Wisely Pay service Monday, which combines digital accounts and a Visa-branded chip card as ways to pay individuals and for them to access these funds. Wisely Pay is the first product resulting from Roseland, N.J.-based ADP’s October 2017 acquisition of Global Cash Card, a …

  • 10 May

    U.S. Worldpay Merchants Begin Migration to Vantiv Platform

    Worldpay Inc. reported Thursday that the integration of its predecessor companies, U.S.-based Vantiv Inc. and United Kingdom-based Worldpay Group plc, continued apace in the first quarter, and that revenues on a combined basis grew 12% year-over-year. The 115,000 merchants served by pre-merger Worldpay’s Atlanta-based U.S. operation are moving to Vantiv’s …

  • 9 May

    Eye on Integrated Payments: First Data Invests in Salido While Square for Restaurants Debuts

    First Data Corp. is betting big on integrated payments, and Square Inc. is adding a restaurant-specific point-of-sale system to capture more transactions from larger merchants. Atlanta-based First Data was one of the investors in a $12 million funding round for Salido Inc., a restaurant POS system provider, reported CNBC.com Wednesday. …

  • 8 May

    USA Technologies Nearly Doubles Its Connection Counts While Leveraging Its Cantaloupe Deal

    Unattended payments continue to bear fruit for USA Technologies Inc. as the company said its connections increased 92.3% in its fiscal third quarter from a year ago. Malvern, Pa.-based USAT said its connections totaled 969,000 in the quarter ended March 31, up from 504,000. Its total number of customers, at …

  • 7 May

    Syncapay’s Acquisition Ambition Begins With Disbursements

    A new entry in the arena for payments-related acquisitions, Syncapay, is targeting specialists in disbursements and payouts. Plano, Texas-based Syncapay debuted last week with the intent to acquire payments companies that could benefit from shared services, while retaining the autonomy that differentiates them. “We are not looking at doing a …