03 August 2015

Vantiv agrees $1.65bn Mercury Payment Systems acquisition

13 May 2014  |  4371 views  |  0 Buy Road sign

Payment processor Vantiv has agreed a $1.65 billion deal to buy Mercury Payment Systems from private equity firm Silver Lake Group.

Founded in 2001, Mercury has a network of more than 3000 point-of-sale software developers and dealers that serve small and medium-sized businesses across North America. The firm generated net revenue of $237 million last year, up 17% on the previous 12 months.

Vantiv argues that the deal will help boost its presence in the fast-growing integrated payments arena.

Charles Drucker, CEO, Vantiv, says: "The emergence of integrated payment technology at the point-of-sale delivers a differentiated merchant experience and creates a highly-efficient, cloud-based delivery model for customer acquisition and retention.

"By combining Mercury's distribution network and innovative solutions with Vantiv's technology platform and products, we are developing a payments eco-system that allows us to serve these clients in new and exciting ways."

The transaction, slated to close in the second quarter, is being funded with committed financing. It is expected to add two percentage points to Vantiv's net revenue growth per year.

Mercury is now shelving its IPO plans.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

11 November, 2011

Related company news

 


Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
ING Bank introduces voice-activated mobile...
10642 views comments | 28 tweets | 31 linkedin
Will Uber be the Uber of banking?
8717 views comments | 41 tweets | 31 linkedin
Payments and capital markets sectors domin...
6730 views comments | 17 tweets | 19 linkedin
Bank branches key to fending off digital c...
6424 views 11 comments | 21 tweets | 29 linkedin
MasterCard to connect Europe to Samsung Pa...
6424 views comments | 20 tweets | 14 linkedin

Featured job

to £65K base, double OTE
London, UK

Find your next job