Source: Global Payments
Global Payments Inc. (GPN), one of the largest worldwide providers of payment solutions, announced today that it has completed the acquisition of Payment Processing, Inc. (PayPros), an innovative provider of fully-integrated payment solutions for 58,000 small-to-medium sized merchants in the United States.
PayPros delivers its products and services through a network of over 1,000 technology-based enterprise software partners to vertical markets that are complementary to the markets served by Accelerated Payment Technologies, Inc., a Global Payments company since October 2012.
GLOBAL PAYMENTS logo
Under the terms of the agreement, Global Payments paid a purchase price of $420 million in cash, funded by a combination of cash on hand and the company's new unsecured term loan facility. The company does not expect the acquisition to have a material impact on its fiscal 2014 operating results.