Global Payments Inc. (GPN), one of the largest worldwide providers of payment solutions, announced today that it has entered a definitive agreement to acquire Ezi Holdings Pty Ltd (Ezidebit).
Founded in 1998, Ezidebit is a leading integrated payments company focused on recurring payments verticals in Australia and New Zealand. Similar to Accelerated Payment Technologies and PayPros, Ezidebit markets its products through a network of integrated software vendors and direct channels to numerous vertical markets.
"The acquisition of Ezidebit aligns well with our worldwide strategy to enter new, attractive payments markets and supports our growth initiatives with a technology-based, direct distribution player," said Global Payments' Chief Executive Officer, Jeffrey S. Sloan. "This partnership with Ezidebit's talented management team leverages our multinational footprint, allows us to capitalize on opportunities across integrated payments globally and expands our business in the fast-growing Asia Pacific region."
Charlie Holland, CEO of Ezidebit, added, "We are thrilled to be joining the Global Payments team. The combination of Global Payments' technology and integrated payments expertise with Ezidebit's market leading position in integrated and recurring payment solutions will position the company well for growth and expansion in the region."
Under the terms of the agreement, Global Payments will acquire Ezidebit for AU$305 million. The transaction is expected to close during the second quarter of Global Payments' 2015 fiscal year, subject to receipt of regulatory approvals in Australia and the satisfaction of customary closing conditions. For the partial year of fiscal 2015, Global Payments expects the transaction to contribute approximately US$25 million in revenues and to be slightly additive to total company cash operating margins. Additionally, it is anticipated that the transaction will be modestly accretive on a cash earnings basis for fiscal 2015 and dilutive to fiscal 2015 GAAP earnings per share.