General Atlantic acquires e-payment outfit GlobalCollect
24 July 2007 | 1687 views | 0
GlobalCollect, the world's premier full-service international e-payment service provider, announced today that General Atlantic LLC (GA), a leading global growth equity firm, has completed its transaction to acquire GlobalCollect from Waterland Private Equity Investments and Prime Technology Ventures.
GlobalCollect's management continues to hold a substantial stake in the business. The terms of the transaction were not disclosed.
GlobalCollect uses its network of international payment solutions to deliver a seamless, full-service offering to merchants selling online. It provides payment options in over 200 countries including methods such as credit cards, debit cards, bank transfers, direct debits, cheques, eWallets, prepaid methods and cash solutions via retail outlets. GlobalCollect provides clients with the full service including reconciliation, reporting and FX conversion, using a single web-enabled system for payment queries and administration.
Jan Manten, CEO of GlobalCollect said, "We are very pleased to have General Atlantic as our capital partner. Their global network, deep expertise in the financial services industry, understanding of growth drivers and active value-added strategy will be of tremendous benefit to us as we continue to expand our service offerings and operations on a global basis."
"We have been very impressed with demonstrated experience and track record of GlobalCollect's management team and the excellent opportunity for continued rapid growth providing services for enterprises in retail, travel and other industries," said Klaus Esser, Head of GA's European operations. "We are very excited to work closely with Jan, Ron, Paul and their team as we continue to provide premier payment solutions globally."
GlobalCollect is active across industry sectors including telcos/portals, publishing, online games, retail, digital content, ticketing/events and travel and counts among its global clients Vivendi/Blizzard, Reuters, Skype, KLM, and Tickets.com. GlobalCollect is headquartered in Hoofddorp, the Netherlands and has sales offices in San Francisco and Singapore.
"GlobalCollect is well-positioned with its cross-border payment capabilities and full service product portfolio targeted at high quality international merchants in rapidly growing end markets," said Florian Wendelstadt, Managing Director with GA. "We are very excited about GlobalCollect's continued growth potential."
Jan Manten (CEO), Paul van Mierlo (CFO) and Ron Vollebregt (COO) will continue to lead the company.