Global Payments, a provider of electronic transaction processing services, has completed the acquisition of Accelerated Payment Technologies, a provider of payment technology services and a portfolio company of Great Hill Partners. The purchase price was $413 million in cash.
Accelerated Payment Technologies is a provider of payment technology services for small to medium sized merchants. The company markets its products and services primarily through a network of 700 resellers in 30 different vertical markets. The company is based in Pleasant Grove, UT with additional offices in St. Louis, MO and Henderson, NV (acceleratedpay.com).
Global Payments (NYSE: GPN) is a provider of electronic transaction processing services for merchants, independent sales organizations, financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Europe and the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a line of processing services for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. The company is based in Atlanta (www.globalpaymentsinc.com).
Great Hill Partners manages over $2.5 billion in capital to finance the expansion, recapitalization or acquisition of growth companies in a range of sectors within the media/communications, Internet, business services, consumer services, financial technology, healthcare technology, software, and transaction processing sectors. The firm targets investments of $25 million to $150 million. Great Hill Partners is based in Boston, MA (www.greathillpartners.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-2-12