Wednesday , March 21, 2018

Clearent Buys an ISV and other Digital Transactions News briefs from 1/3/18

  • Payments provider Clearent LLC announced its acquisition of SPOT Business Systems LLC, an independent software vendor serving the dry-cleaning industry. Terms were not disclosed.
  • Shares of MoneyGram International Inc. dived about 9% Wednesday morning in the wake of Tuesday’s news that China’s Ant Financial Services Group would not be acquiring the wire-transfer provider due to U.S. regulatory pushback.
  • In related news, Euronet Worldwide Inc., which submitted an unsolicited $1 billion bid for MoneyGram last year as a more regulator-friendly deal than Ant Financial’s, issued a statement saying there is still “compelling commercial logic” to a Euronet-MoneyGram combination, but “there is no guarantee any offer will be made or any transaction will ultimately occur.”
  • Cubic Transportation Systems said it won a contract from the Los Angeles County Metropolitan Transportation Authority (Metro) to produce a mobile app supporting the TAP contactless smart card fare-payment system used by 24 transit agencies in the L.A. area.
  • Payments provider Forte Payment Systems said it is providing payments services to users of Rentec Direct, a property-management software provider.

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