21 February 2018
visit www.ebaday.com

Global Payments to acquire Active Network; scoops deal with Vista Equity Partners

03 August 2017  |  7335 views  |  0 Source: Global Payments

Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, announced today an agreement to acquire the communities and sports divisions of ACTIVE Network from Vista Equity Partners.

ACTIVE Network delivers cloud-based, mission critical enterprise software, including payment technology solutions, to event organizers in the communities and health and fitness verticals. The outdoors division of ACTIVE Network will be retained by Vista Equity Partners.

“ACTIVE Network aligns perfectly with our technology-enabled, software driven strategy and complements our existing businesses well,” said Jeff Sloan, Global Payments’ Chief Executive Officer. “With ACTIVE Network, we are adding an enterprise software business operating in two new vertical markets that are highly fragmented and underpenetrated with attractive growth fundamentals.”

Sloan continued, “We also are delighted to enter into a strategic partnership with Vista Equity Partners to provide payment technology expertise to their portfolio of companies. This represents a unique and exciting opportunity to integrate our distinctive payment technologies with a number of leading enterprise software companies to enhance their solutions and drive further market share gains.”

Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners, added, “I am pleased to announce this acquisition and Vista’s strategic partnership with Global Payments. I am confident that Global Payments will be the ideal partner to extend and expand ACTIVE Network’s global reach and scale, as well as offer innovative and differentiated payment technology solutions worldwide to our portfolio companies going forward.”

Under the terms of the acquisition agreement, Global Payments will acquire the communities and sports divisions of ACTIVE Network from Vista Equity Partners in a stock and cash transaction valued at approximately $1.2 billion, including a tax asset. Net of the tax asset, the effective purchase price is approximately $1.0 billion. Vista will receive $600 million of Global Payments stock and $600 million in cash as consideration. Global Payments will finance the cash portion with its existing credit facility and cash on hand. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the fourth quarter of 2017. Global Payments expects the transaction to have an immaterial impact on 2017 adjusted earnings per share results.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comRegister for the webinarVisit www.vasco.com

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10073 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9685 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8457 views comments | 13 tweets | 12 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7117 views comments | 8 tweets | 12 linkedin
hands typing furiouslyMaking Customer Experience Your Business
6815 views 0 | 7 tweets | 5 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job