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VeriFone Inc. will continue to be controlled by GTCR Golder Rauner LLC, a Chicago-based private equity firm, and its current chief executive, Douglas Bergeron, will continue to be a major shareholder even after the San Jose, Calif.-based point of sale terminal maker completes its proposed initial public offering of stock. …
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iPayment Clinches a $130-Million Merchant Deal with First Data
Nashville, Tenn.-based independent sales organization iPayment Inc. expects on Friday to close on its $130 million cash acquisition of a merchant portfolio from First Data Corp. The portfolio consists of 25,000 small merchant accounts generating $9 billion to $10 billion in annual card volume. First Data Merchant Services will continue …
Read More »EFunds Bails out of ATM Deployment, Continuing an Industry Trend
The parade of major ATM deployers out of the business of owning and managing ATM networks continues with the announcement that eFunds Corp., Scottsdale, Ariz., is selling its fleet of 17,200 machines, which are under merchant contracts in the U.S. and Canada, to Portland, Ore.-based TRM Corp. for $150 million …
Read More »iPayment Buys Transaction Solutions, Adds 4,000 Merchants
Nashville-based iPayment Inc., a publicly held independent sales organization that has executed a string of acquisitions over the past two years in the rapidly consolidating acquiring market, today announced its acquisition of Transaction Solutions LLC, a Pittsburgh-based ISO serving 4,000 small merchants with $500 million in annual card volume. No …
Read More »Acies Combines with Atlantic Synergy, Maps Acquisition Strategy
Acies Inc., an independent sales organization based in New York, today announced it has entered into an agreement with Fort Pierce, Fla.-based Atlantic Synergy Inc., under which the ISO will become a subsidiary of Atlantic Synergy and hold a controlling interest in the company. As part the acquisition, Atlantic Synergy, …
Read More »E*Trade Sells Its ATM Network to Cardtronics for $106 Million
E*Trade Financial Corp. today announced it agreed to sell its ATM network to Cardtronics Inc., an ATM deployer based in Houston, for $106 million in cash. E*Trade, a New York-based online banking and brokerage company, operates a network of 15,000 ATMs in an operating unit called E*Trade Access Inc. The …
Read More »TNS Beefs Up Wireless Networking with Its Synapse Deal
TNS Inc. has acquired the primary asset of U.S. Wireless Data Inc., which in March filed for bankruptcy protection. Reston, Va.-based TNS, formerly Transaction Network Services, says its acquisition of New York-based U.S. Wireless Data's Synapse point-of-sale processing system strengthens the company's efforts to build its business in emerging transaction …
Read More »Metavante Buys NYCE to Further An Ambitious Payments Plan
Metavante Corp., which today announced it is paying $610 million in cash to buy the NYCE electronic funds transfer network from First Data Corp. and its bank owners, sees the deal as part of a nearly $1 billion payments strategy that has led the Milwaukee-based processor to snap up other …
Read More »Deal-Maker iPayment Reports Strong First-Quarter Results
Nashville-based card payments processor iPayment Inc. reported financial results today that included a more than doubling in charge volume processed as well as hefty increases in revenue and net income. The company, which closed at the end of 2003 on a $55 million cash acquisition from First Data Corp. that …
Read More »TransFirst’s Break from the M&A Game Will Be Brief
Dallas-based processor TransFirst, which has completed two major acquisitions in the past month that have more than doubled the company's size, is taking a break from the M&A game, but not one that will last long. “It'll be two to three months before another acquisition,” Mark Travis, chief financial officer …
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