Like Associated Foreign Exchange

announced 9/18/2020 via BusinessWire

FleetCor Technologies, Inc., will acquire Associated Foreign Exchange

See 59 Comparable Transactions
synopsis: FLEETCOR Technologies, Inc., a leading global business payments company, announced it has signed a definitive agreement to acquire Associated Foreign Exchange (AFEX), a cross-border payment solutions provider.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FLEETCOR Technologies is a leading global provider of commercial payment solutions. The Company helps businesses of all sizes better control, simplify and secure payment of their fuel, toll, lodging and general payables. "
 target: Associated Foreign Exchange
Associated Foreign Exchange delivers simple and seamless cross border payment solutions that help small-and medium-sized businesses (SMBs) break down currency barriers to grow internationally.
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closed 5/27/2020 via Company Press Release

CheckOut.com, acquired Pin Payments

See 56 Comparable Transactions
synopsis: Leading global payment solution provider Checkout.com has announced the acquisition of Australian startup, Pin Payments, an online payment platform designed for small businesses.
buyer: CheckOut.com
Based in GB, Checkout.com helps companies accept more payments around the world through one integration. Their unified global payment processing platform features in-country acquiring, relevant payment methods, feature parity across geographies, fraud filters, and reporting features, via one API. "
 target: Pin Payments
Pin Payments is an online payment platform designed for small businesses. They build intentionally simple software to help their customers accept card payments, whether they run an online store, sell subscriptions, invoice their clients, or process card sales manually. They are based in Australia.
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announced 1/15/2020 via Company Press Release

INTL FCStone Inc., will acquire Giroxx GmbH

See 59 Comparable Transactions
synopsis: INTL FCStone Inc. announced that it has executed a sale and purchase agreement to acquire GIROXX GmbH in Frankfurt, Germany. Through its digital platform, GIROXX GmbH provides online payment and foreign exchange hedging services to small and medium sized enterprises (SME's) in Germany, Austria and Switzerland.
buyer: INTL FCStone Inc. (INTL:$37,434.30)
INTL FCStone Inc., through its subsidiaries, is a leading provider of execution, risk management and advisory services, market intelligence, and clearing services across asset classes and markets around the world. "
 target: Giroxx GmbH
Through its digital platform, GIROXX GmbH provides online payment and foreign exchange hedging services to small and medium sized enterprises (SME's) in Germany, Austria and Switzerland.
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closed 6/7/2018 via Company Press Release

TSYS, acquired iMobile3, LLC

See 75 Comparable Transactions
synopsis: TSYS, a global payments solutions provider serving issuers, merchants and consumers, announced it has acquired iMobile3, a provider of private-labeled, small business solutions within the payments industry. iMobile3 offers customizable payment solutions including mobile and tablet point-of-sale products, integrated with value added services.
buyer: TSYS (TSS:$4,075.57)
TSYS is a global payments provider, offering innovative solutions across the payments spectrum — from issuer processing and merchant acquiring to prepaid program management. They offer issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions. "
 target: iMobile3, LLC
iMobile3 offers unique and customizable payment solutions including mobile and tablet point-of-sale products, integrated with value added services. The iMobile3 Marketplace is a fully customizable suite of applications curated specifically for every partner.
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closed 9/20/2018 via BusinessWire

PayPal, Inc., acquired iZettle

See 50 Comparable Transactions
synopsis: PayPal Holdings, Inc., an American company operating a worldwide online payments system, announced that it has agreed to acquire iZettle, the leading small business commerce platform in Europe and Latin America.
buyer: PayPal, Inc. (PYPL:$17,037.00)
PayPal is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Their open digital payments platform gives PayPal’s nearly 200 million active account holders the confidence to connect and transact in new and powerful ways. "
 target: iZettle
iZettle, a financial technology company, revolutionized mobile payments with the world’s first mini chip card reader and software for mobile devices. Today iZettle’s commerce platform for small businesses in Europe and Latin America provides tools to get paid, sell smarter and grow businesses.
price ($mm)
$2,200
rev ($mm)
$111
EBITDA ($mm)
EV / rev
19.8x
EV / EBITDA
closed 1/12/2015 via PR Newswire

Rushcard, acquired rapid! PayCard

See 10 Comparable Transactions
synopsis: UniRush, LLC, which helped pioneer the prepaid debit card industry with the RushCard, one of the first general purpose reloadable prepaid debit cards in the marketplace, announced that they acquired the rapid! PayCard business from WEX Inc. rapid! PayCard is one of the largest providers of prepaid payroll card solutions in the US market.
buyer: Rushcard
UniRush, LLC, which helped pioneer the prepaid debit card industry with the RushCard, one of the first general purpose reloadable prepaid debit cards in the marketplace, provides members with access to services that enable them to achieve their personal and financial goals. "
 target parent: WEX Inc.
target: rapid! PayCard
Founded in 2003 and based in Tampa, FL, rapid! PayCard is one of the largest providers of prepaid payroll card solutions in the US market. The rapid! PayCard service seamlessly integrates into any company’s existing payroll/payments process.
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closed 4/1/2011 via BusinessWire

Wright Express Corporation, acquired rapid! Pay Card

See 10 Comparable Transactions
synopsis: Wright Express Corporation, a leading global provider of payment processing and information management services, announced that it has acquired the assets of rapid! PayCard, a privately held provider of payroll debit cards, e-paystubs and e-W2s in an all cash deal that includes additional considerations for performance milestones.
buyer: Wright Express Corporation (WEX:$1,664.84)
Wright Express is a leading provider of value-based, business payment processing and information management solutions. Its fleet, corporate, and prepaid payment solutions provide its more than 350,000 customers with unparalleled security and control across a wide spectrum of business sectors. "
 target: rapid! Pay Card
rapid! PayCard is a privately held provider of payroll debit cards, e-paystubs and e-W2s. rapid! PayCard is an emerging provider of prepaid products focusing on small and medium sized businesses.
price ($mm)
$8.00
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closed 12/18/2019 via finextra.com

iBanFirst, acquired Forexfix

See 5 Comparable Transactions
synopsis: iBanFirst, a global financial services provider, has acquired Forexfix, an online foreign-exchange platform in Germany. Forexfix provides easy, fast, and transparent international money transfers for small and medium-sized businesses. Their platform offers the most competitive rates for immediate and future foreign currency transfers.
buyer: iBanFirst
iBanFirst is a global financial services provider. iBanFirst offers an online platform that combines a full range of financial products and services with a modern and robust core banking infrastructure. Their platform enables businesses to simplify the management of all currency accounts. "
 target: Forexfix
Forexfix is an online foreign-exchange platform in Germany. Forexfix provides easy, fast, and transparent international money transfers for small and medium-sized businesses. Their platform offers the most competitive rates for immediate and future foreign currency transfers.
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closed 3/8/2016 via BNC Analysis

BBVA, acquired Holvi

See 53 Comparable Transactions
synopsis: Helsinki-founded Holvi, set up in 2011, has been acquired by Banco Bilbao Vizcaya Argentaria. Holvi pitches itself as a bank for "makers and doers", allowing entrepreneurs and teams to set up accounts in a few minutes. Holvi's management team will remain in place and will still operate under same the name and banking licence.
buyer: BBVA (BME:BBVA:$21,706.69)
BBVA is a customer-centric global financial services group that relies on technology as a key sustainable competitive advantage. BBVA fosters financial education and inclusion, and supports scientific research and culture. The Group is present in the main sustainability indexes. "
 target: Holvi
Holvi is a payment service provider that allows users to store money and make payments in and out like in any online bank. Each Holvi account has an integrated shop for collecting funds, an effortless invoice service and an expense claims feature.
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closed 3/6/2019 via Company Press Release

Wave Financials Inc., acquired Every Inc.

See 9 Comparable Transactions
synopsis: Wave Financial, delivering innovative financial services and software has announced it has acquired Every. Every is a fintech company that develops and markets application that manages banking function for micro businesses. The application helps users open bank accounts and allow users to pay bills and transfer money.
buyer: Wave Financials Inc.
Wave Financial delivers innovative financial services and award-winning free software to small businesses around the world. Their suite of products include accounting, invoicing, payroll, payments and receipts. They also offer accounting coaching and bookkeeping services. "
 target: Every Inc.
Every is a Toronto-based fintech company that develops and markets application that manages banking function for micro business. The application helps users in opening bank accounts and allows users to pay bills and transfer money through the applications dashboard.
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announced 2/21/2020 via BNC Analysis

Tiscali, will acquire Mistral Pay Ltd

See 174 Comparable Transactions
synopsis: Italian telecommunications operator Tiscali SpA will buy 51% of Mistral Pay Ltd., which provides payment solutions to individuals and small and medium-sized enterprises. MistralPay, a Financial Institution authorised by the Malta Financial Services Authority, provides processing for merchants’ payments using proprietary technology platforms.
buyer: Tiscali
Tiscali is one of the main telecommunications companies in Italy and offers its customers, individuals and companies, a wide range of communication services: Internet access in Fiber & DSL mode, Voice, VoIP, value-added services, mobile phone services. "
 target: Mistral Pay Ltd
MistralPay, a Financial Institution authorised by the Malta Financial Services Authority, provides end-to-end processing for merchants’ payments using proprietary technology platforms that are protected by sophisticated risk and fraud management tools.
price ($mm)
$2.19*
rev ($mm)
$3
EBITDA ($mm)
EV / rev
1.5x
EV / EBITDA
closed 10/30/2019 via BusinessWire

DNA Payments Limited, acquired CR7 Services

See 266 Comparable Transactions
synopsis: DNA Payments (DNA), the ambitious new entrant to the UK payments market, has acquired CR7 Services (CR7), the fast growing, UK-based payment solutions provider.
buyer: DNA Payments Limited
DNA Payments Limited is a new entrant to the payments market. DNA’s team consists of highly proficient people who have worked with payment and banking systems for more than 20 years. "
 target: CR7 Services
The CR7 Services Group is an innovative payment solution provider operating in the UK. Consisting of Optomany, 123Send and the 123Hire brands, they specialize in omnichannel payment processing technology, delivering innovative, reliable and secure solutions to the retail sector across all channels.
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closed 7/4/2018 via Company Press Release

TouchSuite, acquired Alpine Payment Systems

See 272 Comparable Transactions
synopsis: TouchSuite has announced it has acquired the assets of IQ Payment Systems, dba Alpine Payment Systems (Alpine). Alpine is a merchant acquirer based out of Vancouver, Washington that services the restaurant, hospitality and retail verticals. Alpine has built an award-winning integrated payments business with a highly scalable distribution platform.
buyer: TouchSuite
TouchSuite is a leading financial technology company that delivers business solutions for small to mid-sized companies across different industries. Offerings include point-of-sale systems, payment processing services, SEO solutions, working capital and marketing services. "
 target: Alpine Payment Systems
IQ Payment Systems, dba Alpine Payment Systems has continually evolved to offer industry leading solutions for small to medium sized businesses. Alpine has built an award-winning integrated payments business with a highly scalable distribution platform.
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closed 6/4/2018 via GlobeNewswire

Paysafe Group PLC, acquired iPayment Inc.

See 174 Comparable Transactions
synopsis: Paysafe Group announces that it has completed the acquisition of iPayment Holdings, Inc. (iPayment). iPayment, a U.S. based provider of payment and processing solutions for small and medium-sized businesses, generated processing volumes of over $25 billion in 2017 from more than 137,000 customers across the country.
buyer: Paysafe Group PLC (LSE:PAYS:$871.19)
Paysafe is a leading global provider of end-to-end payment solutions. It’s core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet and online cash solutions. "
 target: iPayment Inc. (OTCPK:IYQT:$688.80)
iPayment is a trusted provider of payment processing solutions in the U.S. With over 20 years of experience and more than 137,000 SMB customers, the company is consistently recognized for its depth of payments experience, breadth of product offerings, and commitment to transparency and SMB support.
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closed 2/8/2018 via BusinessWire

Payroc, acquired Integrity Payment Systems

See 174 Comparable Transactions
synopsis: Payroc, LLC, a leading merchant services and payment organization, is pleased to announce that it has acquired Integrity Payment Systems, LLC, a full-service processor and acquirer delivering complete end-to-end and in-house card and other electronic payment processing services.
buyer: Payroc
Payroc, headquartered in the Tinley Park suburb of Chicago, drives commerce for its merchants with anytime, anywhere payment solutions. Payroc serves its referral partners and merchant clients with integrity as trusted advisors and recognized experts in payments. "
 target: Integrity Payment Systems
Integrity, headquartered in the Des Plaines suburb of Chicago, is a full-service processor and acquirer delivering complete end-to-end and in-house card and other electronic payment processing services.
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announced 6/2/2017 via PR Newswire

GTCR, LLC, will acquire Sage Payment Solutions

See 174 Comparable Transactions
synopsis: GTCR, a leading private equity firm, announced that it has entered into a definitive agreement to acquire Sage Payment Solutions, Inc., a leading provider of payment processing and merchant acquiring solutions in North America.
buyer: GTCR, LLC
GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. GTCR has invested more than $12 billion in over 200 companies. "
 target parent: The Sage Group plc.
target: Sage Payment Solutions
Sage Payment Solutions, Inc. is a leading provider of payment processing and merchant acquiring solutions in North America. SPS provides credit card, ACH, check, gift and loyalty card processing services to small and medium-sized businesses in the United States and Canada.
price ($mm)
$260
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closed 9/12/2016 via BusinessWire

Applied Merchant Systems merged with BlueSquare Resolutions,

See 2244 Comparable Transactions
synopsis: Applied Merchant Systems (AMS), a leader in the payment processing industry, has completed a Strategic Merger with BlueSquare Resolutions. BlueSquare’s founder, Sabin Burrell, has become a significant shareholder and Senior Executive of AMS. AMS is an integrated provider of merchant payment processing services and digital marketing for SMBs.
buyer: BlueSquare Resolutions
BlueSquare Resolutions is one of the fastest growing firms in the electronic payment industry. It provides its clients with superior pricing, state-of-the-art security monitoring, 24/7 on-line, real-time account information, breach insurance, and more. "
 target: Applied Merchant Systems
AMS (Applied Merchant Systems) is an integrated provider of merchant payment processing services as well as a provider of various digital marketing solutions primarily to small- and medium-sized merchants located in the United States.
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closed 7/23/2014 via PR Newswire

Optimal Payments Plc, acquired Global Merchant Advisors, Inc

See 173 Comparable Transactions
synopsis: Optimal Payments Plc, a leading global online payments and risk management provider, acquired Los Angeles-based online payments company Global Merchant Advisors, Inc. for consideration of up to $15 million. The transaction closed on July 23, 2014. GMA is a fast growing payments company serving small to medium sized businesses.
buyer: Optimal Payments Plc (LSE:PAYS:$871.19)
Optimal Payments is a global provider of online payment solutions, trusted by businesses and consumers in over 200 countries and territories to move and manage billions of dollars each year. "
 target: Global Merchant Advisors, Inc
Based in Los Angeles, GMA is a fast growing payments company serving small to medium sized businesses. The company focuses primarily on segments of the market that have been underserved by larger payment processing competitors, offering small merchants "industrial grade" processing solutions.
price ($mm)
$10
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closed 11/18/2013 via PR Newswire

EVO Payments International, acquired Encore Payment Systems

See 174 Comparable Transactions
synopsis: EVO Payments International, a leading payment service provider operating in the United States, Canada and Europe, announced that it has acquired the Encore Group, a privately held nationwide company focused on providing several forms of electronic payment processing solutions and other value-added services.
buyer: EVO Payments International (EVOP:$529.62)
EVO is in the largest privately held credit card processor and among the top ten largest non-bank acquirers in the US and Canada.EVO actively services nearly 300,000 merchant customers businesses of all sizes, in various industries, focusing on the small to midsized merchants. "
 target: Encore Payment Systems
Encore Payment Systems is a privately held nationwide company focused on providing several forms of electronic payment processing solutions and other value-added services to small and medium-sized retail business customers throughout the United States.
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closed 5/13/2013 via Market Wire

Transcendent One, Inc merged with AppTech Corp,

See 174 Comparable Transactions
synopsis: AppTech Corp. is pleased to announce the effective agreement and plan of merger with Transcendent One, Inc., a merchant processor and information technology company based in Carlsbad, CA. Transcendent One, Inc. is a leading business services provider of electronic transaction processing technologies and associated merchant services since 2006.
buyer: AppTech Corp (APCX:$0.01)
AppTech Corp., based in The Woodlands, Texas, specializes in the worldwide marketing and distribution of mobile smartphone and web-centric applications created by independent developers around the globe. "
 target: Transcendent One, Inc
Transcendent One Inc. prides itself as the first and only "Merchant-Owned" Company in the payment processing industry. It also provides merchants the unique opportunity to earn stock in Transcendent One, Inc. based on gross Visa & MasterCard processing volumes through its Merchant Equity Program.
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Pages:  
announced 9/18/2020 via BusinessWire

FleetCor Technologies, Inc., will acquire Associated Foreign Exchange

See 59 Comparable Transactions
synopsis: FLEETCOR Technologies, Inc., a leading global business payments company, announced it has signed a definitive agreement to acquire Associated Foreign Exchange (AFEX), a cross-border payment solutions provider.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FLEETCOR Technologies is a leading global provider of commercial payment solutions. The Company helps businesses of all sizes better control, simplify and secure payment of their fuel, toll, lodging and general payables. "
 target: Associated Foreign Exchange
Associated Foreign Exchange delivers simple and seamless cross border payment solutions that help small-and medium-sized businesses (SMBs) break down currency barriers to grow internationally.
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closed 9/8/2014 via BusinessWire

AFEX, acquired GFX Partners

See 106 Comparable Transactions
synopsis: AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, announced the acquisition of GFX Partners, a payment and foreign exchange company headquartered in Toronto, Canada.
buyer: AFEX
AFEX is a leading global payment and risk management solutions provider that specializes in cross-border transactions and provides market expertise and unrivalled customer service for businesses and private clients. "
 target: GFX Partners
GFX Partners is a payment and foreign exchange company headquartered in Toronto, Canada. GFX has the experience and knowledge to best assess their customer's international currency exchange needs and design appropriate solutions to reduce costs while protecting them against currency exchange risk.
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announced 9/18/2020 via BusinessWire

FleetCor Technologies, Inc., will acquire Associated Foreign Exchange

See 59 Comparable Transactions
synopsis: FLEETCOR Technologies, Inc., a leading global business payments company, announced it has signed a definitive agreement to acquire Associated Foreign Exchange (AFEX), a cross-border payment solutions provider.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FLEETCOR Technologies is a leading global provider of commercial payment solutions. The Company helps businesses of all sizes better control, simplify and secure payment of their fuel, toll, lodging and general payables. "
 target: Associated Foreign Exchange
Associated Foreign Exchange delivers simple and seamless cross border payment solutions that help small-and medium-sized businesses (SMBs) break down currency barriers to grow internationally.
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closed 5/17/2019 via GlobeNewswire

Michelin, acquired Masternaut Limited

See 196 Comparable Transactions
synopsis: Michelin has acquired the entire share capital of Masternaut, one of the largest European telematics providers. Masternaut operates primarily in France and the United Kingdom. It provides a technical platform equipped with the latest technology and offers on-board telematics solutions to optimize vehicle fleet management and monitoring.
buyer: Michelin (ENXTPA:ML:$25,747.25)
Michelin, headquartered in France, is dedicated to enhancing its clients' mobility, sustainably; designing and distributing the most suitable tires, services and solutions; providing digital services, maps and guides ; and developing high-technology materials that serve the mobility industry. "
 target parent: FleetCor Technologies, Inc.
target: Masternaut Limited
London-based Masternaut is one of the longest standing vehicle tracking companies in the UK. Masternaut provides a technical platform equipped with the latest technology and offers on-board telematics solutions to optimize vehicle fleet management and monitoring.
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closed 4/17/2019 via BNC Analysis

Keyfuels, acquired r2c Online Limited

See 236 Comparable Transactions
synopsis: Fuel card provider Keyfuels has announced that it has completed the acquisition of r2c Online Ltd, the fleet, compliance and workshop management software provider. r2c Online’s software platform currently connects 23,000 fleets and 1,000 workshops for best practice vehicle compliance and maintenance.
buyer parent: FleetCor Technologies, Inc.
buyer: Keyfuels
Keyfuels is the leading provider of fuel cards and fuel management solutions to commercial vehicle operators, managing billions of litres of diesel for some of Europe’s largest logistics and freight operators. Keyfuels is also supported by 25 resellers. "
 target: r2c Online Limited
r2c Online Ltd is a fleet, compliance and workshop management software provider. r2c Online’s software platform currently connects 23,000 fleets and 1,000 workshops for best practice vehicle compliance and maintenance.
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announced 3/5/2019 via BusinessWire

FleetCor Technologies, Inc., will acquire NVoicePay

See 1810 Comparable Transactions
synopsis: FLEETCOR Technologies, Inc., a leading global provider of commercial payment solutions, announced that it has signed a definitive agreement to acquire Nvoicepay, Inc., a leader in full accounts payable automation for businesses.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FLEETCOR Technologies is a leading global provider of commercial payment solutions. The Company helps businesses of all sizes better control, simplify and secure payment of their fuel, toll, lodging and general payables. "
 target: NVoicePay
Nvoicepay delivers automated accounts payable solutions to over 400 business clients, providing a simple UI that allows customers to electronically pay all of their suppliers.
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closed 2/20/2019 via Company Press Release

Stored Value Solutions, acquired Buyatab Online Inc

See 38 Comparable Transactions
synopsis: Stored Value Solutions (SVS), a leader in gift card processing and program management, announced that it has completed the acquisition of Buyatab, a leading international provider of online gift card solutions. 
buyer parent: FleetCor Technologies, Inc.
buyer: Stored Value Solutions
As a leading prepaid provider, Stored Value Solutions ("SVS") manages more than 700 hundred million card products and processes over 1.5 billion transactions annually. SVS partners with top retailers to offer stored value solutions and effectively drive behaviors that will lead to business success. "
 target: Buyatab Online Inc
Buyatab is a leading supplier of advanced online gift card infrastructure, technology and marketing services for leading brands. Buyatab provides online gift card services to clients in a wide variety of sectors, including retail, hospitality, restaurant, online shopping, hotel and others.
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announced 6/14/2017 via PR Newswire

Michelin North America, will acquire NexTraq

See 220 Comparable Transactions
synopsis: Michelin announced that it has agreed to acquire NexTraq, a U.S. provider of commercial fleet telematics, in an all-cash transaction. Based in the Atlanta area, NexTraq is a subsidiary of FLEETCOR Technologies, Inc., a leading global provider of fuel cards and workforce payment products.
buyer parent: Michelin
buyer: Michelin North America
Headquartered in Greenville, S.C.,Michelin North America employs about 22,700 and operates 19 major manufacturing plants. It manufactures and sells tires for airplanes, automobiles, farm equipment, heavy duty trucks, motorcycles, and bicycles. "
 target parent: FleetCor Technologies, Inc.
target: NexTraq
NexTraq is a U.S. provider of commercial fleet telematics. NexTraq provides solutions for driver safety, fuel management and enhancing fleet productivity. Since its inception in 2000, NexTraq has become a leading provider of GPS fleet management solutions for fleets of small commercial vehicles.
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closed 8/9/2017 via BusinessWire

FleetCor Technologies, Inc., acquired Cambridge Global Payments

See 372 Comparable Transactions
synopsis: FLEETCOR Technologies, Inc., a leading global provider of commercial payment solutions, has closed its acquisition of Cambridge Global Payments, a leading B2B international payments provider. As a trusted partner for close to 25 years, Cambridge delivers innovative solutions designed to address the unique international payment needs of businesses.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor is a leading global provider of fuel cards and workforce payment products to businesses. FleetCor's payment programs enable businesses to better control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales & customer loyalty. "
 target: Cambridge Global Payments
Cambridge Global Payments is a leading provider of integrated B2B cross-border payment services. As a trusted partner for close to 25 years, Cambridge delivers innovative solutions designed to address the unique international payment needs of businesses.
price ($mm)
$675
rev ($mm)
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closed 11/17/2014 via BusinessWire

FleetCor Technologies, Inc., acquired Comdata Corporation

See 371 Comparable Transactions
synopsis: FleetCor Technologies, Inc., a leading global provider of fuel cards and workforce payment products to businesses, announced that it has acquired Comdata Inc, a leading business-to-business provider of innovative electronic payment solutions, from Ceridian LLC.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor is a leading global provider of fuel cards and workforce payment products to businesses. FleetCor's payment programs enable businesses to better manage and control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales. "
 target parent: Thomas H. Lee Partners, L.P.
target: Comdata Corporation
Comdata is a leading business-to-business provider of innovative electronic payment solutions. As an issuer and a processor, Comdata provides fleet, and corporate payment solutions to over 20,000 customers. In 2013, Comdata managed over 62 million cards and processed over 1.4 billion transactions.
price ($mm)
$3,058
rev ($mm)
$581
EBITDA ($mm)
EV / rev
5.8x
EV / EBITDA
announced 6/4/2014 via BusinessWire

FleetCor Technologies, Inc., Summit Partners, will acquire Masternaut Limited

See 196 Comparable Transactions
synopsis: Summit Partners announced a joint venture with FleetCor Technologies, Inc. to acquire Masternaut Group Holdings Limited, Europe’s largest provider of telematics solutions to commercial fleets. Masternaut provides a SaaS-based Mobile Resource Management application suite to help companiesachieve greater operational efficiencies.
buyer: Summit Partners
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
Summit Partners is a growth equity firm that invests in rapidly growing companies. Summit Partners seeks outstanding management teams that have built their companies to profitability and market leadership, and provides capital for growth, recapitalizations and management buyouts. "
 target parent: Francisco Partners Management LLC
target: Masternaut Limited
Masternaut provides a SaaS-based Mobile Resource Management application suite for businesses of all sizes to help them achieve greater operational efficiencies through a lowering of vehicle fuel consumption, effective tracking of assets, and productivity increases in workforce.
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closed 10/30/2013 via Company Press Release

FleetCor Technologies, Inc., acquired epyx Limited

See 249 Comparable Transactions
synopsis: FleetCor Technologies, Inc. announced that it has acquired Epyx, a leading provider to the fleet maintenance, service and repair marketplace, from HgCapital and management. Epyx provides an internet based system and a vehicle repair network of approximately 9,000 service garages to fleet operators in the UK.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor Technologies, Inc., The Global Fleet Card Company, is a global provider of fuel cards and specialized payment services to businesses. FleetCor, with operations in North America, Latin America and Europe, serves commercial accounts across the globe. "
 target parent: HgCapital
target: epyx Limited
epyx Limited specialises in new technology for the automotive arena. Its flagship products operate under the 1link brand for the creation, development and provision of a range of technology platforms enabling electronic trading within the automotive sector.
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closed 10/30/2013 via BusinessWire

FleetCor Technologies, Inc., acquired NexTraq

See 220 Comparable Transactions
synopsis: FleetCor Technologies, Inc., a leading global provider of fuel cards and workforce payment products to businesses, announced that it has acquired NexTraq, a US based provider of telematics solutions to small and medium-sized businesses.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor Technologies, Inc., The Global Fleet Card Company, is a global provider of fuel cards and specialized payment services to businesses. FleetCor, with operations in North America, Latin America and Europe, serves commercial accounts across the globe. "
 target parent: Francisco Partners Management LLC
target: NexTraq
NexTraq, Inc. provides GPS fleet tracking and vehicle management solutions for the telematics industry in the United States. The company offers Fleet Tracking platform, a cloud-based application that enables service and distribution businesses to optimize fleet operations.
price ($mm)
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announced 9/10/2013 via Market Watch

FleetCor Technologies, Inc., will acquire DB Trans S.A.

See 9 Comparable Transactions
synopsis: FleetCor Technologies, Inc., a leading global provider of fuel cards and workforce payment products to businesses, announced that it had entered into an agreement to acquire DB Trans S.A., a leading provider of payment solutions for independent truckers in Brazil.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor Technologies, Inc., The Global Fleet Card Company, is a global provider of fuel cards and specialized payment services to businesses. FleetCor, with operations in North America, Latin America and Europe, serves commercial accounts across the globe. "
 target: DB Trans S.A.
DB Trans S.A. provides payment solutions for independent truckers in Brazil. It provides prepaid toll, fuel, and payroll card programs for transportation companies. The company is based in Brazil.
price ($mm)
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closed 7/11/2012 via BusinessWire

FleetCor Technologies, Inc., acquired CTF Technologies Inc.

See 9 Comparable Transactions
synopsis: FleetCor Technologies, Inc., a global leader in providing fuel card and workforce payment products to businesses, announced that it successfully completed its previously announced acquisition of CTF Technologies, Inc. CTF provides fuel payment processing services for over-the-road fleets, ships, mining equipment, and railroads in Brazil.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor Technologies, Inc., The Global Fleet Card Company, is a global provider of fuel cards and specialized payment services to businesses. FleetCor, with operations in North America, Latin America and Europe, serves commercial accounts across the globe. "
 target: CTF Technologies Inc.
CTF provides fuel payment processing services for over-the-road fleets, ships, mining equipment, and railroads in Brazil. CTF’s payment platform links together fleet operators, two of the largest Brazilian banks, Bradesco and Itau, and the two largest Brazilian oil companies, Petrobras and Ipiranga.
price ($mm)[EV]
$153 [$166]
rev ($mm)
$63
EBITDA ($mm)
$18
EV / rev
3.1x
EV / EBITDA
11.0x
announced 3/12/2012 via BusinessWire

FleetCor Technologies, Inc., will purchase Tebca and Servitebca from NovoPayment, Inc.

See 93 Comparable Transactions
synopsis: FleetCor Technologies, Inc., a global provider of fuel cards and specialized payment services to businesses, announced that it has signed definitive agreements to acquire the Mexican assets of NovoPayment’s subsidiaries Tebca and Servitebca.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor Technologies, Inc., The Global Fleet Card Company, is a global provider of fuel cards and specialized payment services to businesses. FleetCor, with operations in North America, Latin America and Europe, serves commercial accounts across the globe. "
 seller: NovoPayment, Inc.
NovoPayment, Inc.is Latin America’s leading prepaid card service provider and program manager. The company is the region’s first non-financial institution to be granted a Principal Member license by MasterCard Worldwide for the issuance of branded prepaid cards.
price ($mm)
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closed 12/1/2014 via BusinessWire

WEX Inc., acquired Esso Card

See 9 Comparable Transactions
synopsis: WEX Inc., a leading provider of corporate payment solutions, announced that it has acquired the assets of ExxonMobil’s European commercial fuel card (“Esso Card”) program through a majority owned joint venture, WEX Europe Services Limited.
buyer: WEX Inc. (WEX:$1,664.84)
WEX Inc. is a leading provider of corporate payment solutions. WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 8 million cardholders and offering exceptional payment security and control across many business sectors. "
 target parent: Exxon Mobil Corporation
target: Esso Card
Esso Card is the essential tool to help businesses manage vehicles, whether they have trucks, buses, coaches, vans or cars. Esso Card is cost-effective and flexible, and can reduce administration time and costs, giving businesses the freedom to focus on other priorities.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/11/2012 via BusinessWire

FleetCor Technologies, Inc., acquired CTF Technologies Inc.

See 9 Comparable Transactions
synopsis: FleetCor Technologies, Inc., a global leader in providing fuel card and workforce payment products to businesses, announced that it successfully completed its previously announced acquisition of CTF Technologies, Inc. CTF provides fuel payment processing services for over-the-road fleets, ships, mining equipment, and railroads in Brazil.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor Technologies, Inc., The Global Fleet Card Company, is a global provider of fuel cards and specialized payment services to businesses. FleetCor, with operations in North America, Latin America and Europe, serves commercial accounts across the globe. "
 target: CTF Technologies Inc.
CTF provides fuel payment processing services for over-the-road fleets, ships, mining equipment, and railroads in Brazil. CTF’s payment platform links together fleet operators, two of the largest Brazilian banks, Bradesco and Itau, and the two largest Brazilian oil companies, Petrobras and Ipiranga.
price ($mm)[EV]
$153 [$166]
rev ($mm)
$63
EBITDA ($mm)
$18
EV / rev
3.1x
EV / EBITDA
11.0x
announced 9/10/2013 via Market Watch

FleetCor Technologies, Inc., will acquire DB Trans S.A.

See 9 Comparable Transactions
synopsis: FleetCor Technologies, Inc., a leading global provider of fuel cards and workforce payment products to businesses, announced that it had entered into an agreement to acquire DB Trans S.A., a leading provider of payment solutions for independent truckers in Brazil.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor Technologies, Inc., The Global Fleet Card Company, is a global provider of fuel cards and specialized payment services to businesses. FleetCor, with operations in North America, Latin America and Europe, serves commercial accounts across the globe. "
 target: DB Trans S.A.
DB Trans S.A. provides payment solutions for independent truckers in Brazil. It provides prepaid toll, fuel, and payroll card programs for transportation companies. The company is based in Brazil.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
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announced 7/31/2020 via BusinessWire

Corsair Capital, will acquire MSTS

See 108 Comparable Transactions
synopsis: Corsair Capital LLC, a private equity firm focused on business and financial services, will acquire MSTS, a global B2B payment and credit solutions provider. With the acquisition, MSTS will be better positioned to capitalize on the substantial growth opportunities in the B2B payments market while continuing to expand its technology platform.
buyer: Corsair Capital
Corsair Capital is one of the longest-standing private equity firms focused on business and financial services in Europe and North America. The firm has developed a leading practice aligning with strong management teams and co-shareholders to grow specialist businesses. "
 target parent: World Fuel Services Corporation
target: MSTS
MSTS is a financial technology company, working globally with B2B companies across transportation, manufacturing, retail, and eCommerce. MSTS’ Credit as a Service solution accelerates business commerce by streamlining payments and Accounts Receivable processes.
price ($mm)
$300
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/1/2016 via BusinessWire

WEX Inc., acquired Electronic Funds Source

See 9 Comparable Transactions
synopsis: WEX Inc. , a leading provider of corporate payment solutions, completed its previously announced acquisition of Electronic Funds Source LLC (“EFS”), a provider of customized corporate payment solutions for fleet and corporate customers with a focus on the large and mid-sized over-the-road (“OTR”) fleet segments.
buyer: WEX Inc. (WEX:$1,664.84)
WEX Inc. is a leading provider of corporate payment solutions. WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing 9 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors "
 target parent: Warburg Pincus
target: Electronic Funds Source
Electronic Funds Source LLC (“EFS”) is a provider of customized corporate payment solutions for fleet and corporate customers with a focus on the large and mid-sized over-the-road (“OTR”) fleet segments.
price ($mm)
$1,470
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/17/2014 via BusinessWire

FleetCor Technologies, Inc., acquired Comdata Corporation

See 371 Comparable Transactions
synopsis: FleetCor Technologies, Inc., a leading global provider of fuel cards and workforce payment products to businesses, announced that it has acquired Comdata Inc, a leading business-to-business provider of innovative electronic payment solutions, from Ceridian LLC.
buyer: FleetCor Technologies, Inc. (FLT:$2,566.17)
FleetCor is a leading global provider of fuel cards and workforce payment products to businesses. FleetCor's payment programs enable businesses to better manage and control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales. "
 target parent: Thomas H. Lee Partners, L.P.
target: Comdata Corporation
Comdata is a leading business-to-business provider of innovative electronic payment solutions. As an issuer and a processor, Comdata provides fleet, and corporate payment solutions to over 20,000 customers. In 2013, Comdata managed over 62 million cards and processed over 1.4 billion transactions.
price ($mm)
$3,058
rev ($mm)
$581
EBITDA ($mm)
EV / rev
5.8x
EV / EBITDA
closed 4/16/2014 via PR Newswire

Warburg Pincus, acquired Electronic Funds Source

See 9 Comparable Transactions
synopsis: Warburg Pincus, a leading global private equity firm focused on growth investing, announced it has entered into a definitive agreement whereby one of its affiliates will acquire 100% of Electronic Funds Source LLC, a leader in innovative corporate payments solutions.
buyer: Warburg Pincus
Warburg Pincus is a leading global private equity firm. The firm has more than $30 billion in assets under management. Its active portfolio of more than 125 companies is highly diversified by stage, sector and geography. "
 target: Electronic Funds Source
Electronic Funds Source LLC is a leading provider of innovative and customized corporate payment technology solutions designed specifically to help its customers drive efficiencies and improve bottom line performance.
price ($mm)
rev ($mm)
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announced 10/16/2018 via BusinessWire

TNS, Inc., will acquire ADVAM

See 15 Comparable Transactions
synopsis: Transaction Network Services (TNS) announced it has agreed to acquire ADVAM, one of the world’s leading providers of unattended payments and eCommerce solutions to the parking, airport, shopping center, government and self-service sectors. ADVAM is based in Australia.
buyer parent: Siris Capital Group
buyer: TNS, Inc. (TNS:$474.82)
Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions. Their global network and innovative value-added services enable transactions and the exchange of information to many of the world’s leading companies. "
 target: ADVAM
Headquartered in Adelaide, Australia, ADVAM is one of the world’s leading providers of unattended payments and eCommerce solutions to the parking, airport, shopping center, government and self-service sectors. ADVAM processes millions of transactions and reservations daily in over 20 countries.
price ($mm)
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announced 10/17/2012 via Reuters

Electronic Funds Source, will acquire T-Chek Systems, Inc.

See 20 Comparable Transactions
synopsis: C.H. Robinson Worldwide announced it would sell its payment processing business unit, T-Chek, to privately held peer Electronic Funds Source LLC for $302.5 million. T-Chek is a business-to-business provider of intelligent payment processing and spend management services.
buyer: Electronic Funds Source
Electronic Funds Source, LLC. has been providing payment services to the transportation industry for 30 years. EFS is focused on improving the transportation industry by developing new technology that will deliver smarter, more flexible and custom payment solutions. "
 target parent: C.H. Robinson Worldwide, Inc.
target: T-Chek Systems, Inc.
T-Chek Systems, Inc. is a business-to-business provider of intelligent payment processing and spend management services. Their core competency is transaction management through flexible automated systems.
price ($mm)
$303
rev ($mm)
$49
EBITDA ($mm)
EV / rev
6.1x
EV / EBITDA

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Esso Card

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Comdata Corporation

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ADVAM

T-Chek Systems, Inc.

Geography
Matching Companies
Ticker: NYSE:EVTC
 
 
 
 
 
 
 
 
Evertec, Inc.
Evertec, Inc.
Evertec is a full-service transaction processing business in Latin America, with merchant acquiring, payment processing and business solutions services. They manage electronic payment networks, and offer a suite of services for core bank processing, cash processing and technology outsourcing.
year
2017
rev ($mm)
$395.31
EBITDA ($mm)
$155.45
EBIT ($mm)
$109.17
Net Income ($mm)
$78.92
Employees
1650
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Ticker: LSE:FIN
 
 
 
 
 
 
 
 
Finablr Limited
Finablr Limited
UK-based Finablr is a global platform for payments and foreign exchange solutions. Its products and services are distributed through a comprehensive global network, underpinned by proprietary modern technology, using an omni-channel proposition.
year
2019
rev ($mm)
$34.23
EBITDA ($mm)
($1,295.61)
EBIT ($mm)
($1,336.16)
Net Income ($mm)
Employees
18201
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Ticker: ENXTBR:KEYW
 
 
 
 
 
 
 
 
Keyware Technologies NV
Keyware Technologies NV
Keyware is a leading supplier of electronic payment solutions, loyalty systems, identity applications and related transaction management. Keyware is based in Zaventem, Belgium. Keyware boasts solid partnerships with various global players in the value chain of electronic payment.
year
2017
rev ($mm)
$21.90
EBITDA ($mm)
$4.40
EBIT ($mm)
$4.06
Net Income ($mm)
$3.50
Employees
46
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Ticker: OTCPK:MYEC
 
 
 
 
 
 
 
 
MyECheck
MyECheck Inc. is a leading electronic payment technology developer and payment services provider. MyECheck provides comprehensive payment systems for all payment applications including mobile payments and the industry's most advanced security and fraud control technologies.
year
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rev ($mm)
$0.78
EBITDA ($mm)
EBIT ($mm)
($0.01)
Net Income ($mm)
$0.16
Employees
4
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Ticker: DB:UMD
 
 
 
 
 
 
 
 
UMT United Mobility Technology AG
UMT United Mobility Technology AG
UMT United Mobility Technology AG is specialized in the development and implementation of individual mobile payment solutions, especially for large-scale customers, e.g. PAYBACK (American Express Group). The FinTech company has developed one of the largest mobile payment platforms in Europe.
year
2016
rev ($mm)
$3.34
EBITDA ($mm)
$1.06
EBIT ($mm)
$1.05
Net Income ($mm)
$1.48
Employees
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Ticker: FLT
 
 
 
 
 
 
 
 
FleetCor Technologies, Inc.
FleetCor Technologies, Inc.
FleetCor is a leading global provider of fuel cards and workforce payment products to businesses. FleetCor's payment programs enable businesses to better manage and control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales.
year
2020
rev ($mm)
$2,566.17
EBITDA ($mm)
$1,342.40
EBIT ($mm)
$1,121.55
Net Income ($mm)
$766.86
Employees
8700
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Ticker: ASX:CA
 
 
 
 
 
 
 
 
Cabcharge Australia Limited
Cabcharge Australia Limited
Cabcharge is a provider of electronic payment systems and software for taxis in Australia. Their solutions include a personalized payment card, single use e-tickets, and gift cards. They also offer a cloud based travel management platform that give taxi companies better visibility and insight.
year
2017
rev ($mm)
$120.51
EBITDA ($mm)
$26.77
EBIT ($mm)
$17.90
Net Income ($mm)
$8.21
Employees
538
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