Saturday , February 23, 2019

TNS Buys R2G Services and other Digital Transactions News briefs from 1/24/19

  • Data-communications provider Transaction Network Services acquired R2G Services, a Chicago-based provider of a market-data and managed-hosting platform; terms were not disclosed.
  • Payment processor Repay Holdings LLC, which private-equity firm Corsair Capital acquired in 2016, said it has a definitive merger agreement with Thunder Bridge Acquisition Ltd., a special-purpose acquisition firm listed on the NASDAQ Stock Market. The combined company, with an estimated enterprise value of $653 million, will be known as Repay Holdings Corp. and continue to trade on the NASDAQ under a new ticker symbol, with Corsair as its largest stockholder.
  • Apruve, a business-to-business platform for extending credit terms and automating accounts-receivable operations, closed on a $6 million Series A funding round led by Cloud Apps Capital Partners with participation from TTV Capital and Allegis Capital.
  • Mercator Advisory Group Inc. released its “2019 Payments and Banking Outlooks” report.
  • Business owners that use a Visa Business card to buy at least $150 per month in advertising on the consumer-review site Yelp will get $50 more per month toward Yelp advertising, with a $600 annual cap, according to the terms of an arrangement announced by Visa Inc.
  • With the partial federal-government shutdown grinding on, PayPal Holdings Inc. is offering interest-free cash advances of up to $500 to government employees who are PayPal customers; PayPal has committed to funding up to $25 million for the loans.
  • Payments and accounting-software provider Intuit Inc. said it will donate $2 million to food banks in Washington, D.C. and six states where workers are most affected by the federal-government shutdown.
  • Software provider Passport Labs Inc., whose products include mobile apps for parking, transit, and tolling, named former First Data Corp. executive Brian V. Mooney to its board of directors; Mooney most recently was CEO of Merchant Customer Exchange LLC (MCX), developer of the now-defunct CurrentC multiretailer payment platform.
  • Colleen Johnston, former chief financial officer of Toronto Dominion Bank, joined the board of directors of Shopify Inc., a provider of payments and business services for small businesses.

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