NXGEN International and Payscape, two premier payments companies recently backed by Parthenon Capital, announced their latest acquisition, BluePay Canada, formerly known as Caledon Computer Systems, Inc.
Together, the combined companies of NXGEN, Payscape and BluePay Canada form a new financial technology company that operates in 46 countries and processes more $13 billion in payment volume annually for over 25,000 merchants.
BluePay Canada adds a proprietary, full-stack payments processing platform used across North America by a wide range of enterprise customers and leading software providers. The platform specializes in providing payment facilitation services to leading global independent software vendors (ISVs), enabling them to provide world class accounts receivable and accounts payable functionality to end-user clients. With direct connectivity to the four major card networks of Visa, MasterCard, American Express and Discover, BluePay Canada supports volume in verticals such as business-to-business, property management, education, leasing and financing, subscriptions, recurring billing and other emerging payment markets. Product highlights include payment facilitator sponsorship, data tokenization, middle and enterprise market merchant acquiring, Level 2 and 3 data interchange management, pre-authorized debit processing and electronic funds transfer settlement (Canadian ACH), user-pay surcharging and white-label solutions.
Marcus Dagenais, head of BluePay Canada who becomes president of the Canadian division of the company remarked, “For myself and our team, this feels like a homecoming. We have closely watched the success of both Payscape and NXGEN over the years, so we are both excited and humbled to be included in this next chapter of growth with support from Parthenon Capital.”
“This merger represents the next logical step in the company’s growth and expansion,” commented Zach Sadek, a partner with Parthenon Capital. “With this acquisition, we demonstrate our dedication and commitment to the international ISV space. We are quickly becoming North America’s most powerful payment facilitator platform,” said CEO Adam Bloomston.
“While significantly strengthening our Canadian presence, adding BluePay Canada’s ISV capabilities and relationships to the combined Payscape-NXGEN offering will enable software developers, resellers and integrators to deploy their solutions in 46 countries, and will reinforce our position as a unique player in the fintech world,” expressed Giuseppe Caltabiano, president of the combined company’s international business. “We are the leader in the space, able to provide both card-present and card-not-present solutions on a large geographical footprint.”
Golding & Company served as financial advisor to the seller in this transaction.