Beanstream has been sold to Bambora. Financial terms weren’t announced. Digital River, a Siris Capital portfolio company, was the seller. Beanstream, of Victoria, B.C., provides payment, risk management and authentication solutions to companies and institutions in North America. Buyouts reported news of the sale in May. William Blair advised Beanstream.
William Blair acted as exclusive financial advisor to Beanstream, a leading payment services provider and wholly owned subsidiary of Digital River, a Siris Capital portfolio company, in connection with its sale to Bambora. The transaction is expected to close in the third quarter of 2015.
• Deep sector expertise: Beanstream recognized William Blair’s extensive knowledge and experience in the financial technology sector.
• Proven results: Beanstream viewed William Blair as a trusted partner with a proven record for delivering exceptional results for companies in the financial technology sector. Beanstream valued William Blair’s ability to effectively articulate its competitive differentiation and deliver substantial value.
• Highly strategic transaction: Bambora’s highly strategic acquisition of Beanstream expands Bambora’s geographic footprint into Canada, the United States, and the United Kingdom and creates a fully integrated end-to-end payment provider with deep distribution capabilities and an attractive customer base.
About the Companies
Beanstream is a leading payment services provider with a proprietary technology platform delivering omni-channel solutions to small and midsize businesses. The company provides payment gateway services, full-service acquiring solutions, and EFT, ACH, and risk management services. Beanstream, based in Victoria, Canada, has developed a global payment ecosystem of major financial institutions and global acquirers. The company’s network consists of over 500 partners and 20,000 merchants and processes over $17 billion in payments annually.
Digital River is a leading global provider of Commerce-as-a-Service solutions, with over 20 years of e-commerce experience. Companies of all sizes rely on Digital River’s scalable, cloud-based multitenant SaaS commerce, payment, and marketing services to manage and grow their online businesses. Digital River is a portfolio company of Siris Capital, a private equity firm headquartered in New York.
Bambora (fka Euroline/SuperPay) is a Nordic-based payment services group. The company was created by combining the leading payment portfolio companies of Nordic Capital to become the largest online payment transaction firm in Sweden, handling more than 3 billion transactions annually.