Atlanta-based Global Payments, a publicly traded electronic transaction processing company, has acquired Accelerated Payment Technologies of Pleasant Grove, Utah for $413 in cash from the private equity firm Great Hill Partners.
Global Payments Inc. (NYSE: GPN), a leading, worldwide provider of electronic transaction processing solutions, announced today that it has completed the acquisition of Accelerated Payment Technologies (APT), an innovative provider of fully-integrated payment technology solutions for small to medium sized merchants. APT markets its products and services primarily through a network of 700 value-added resellers (VARs) covering over 30 different vertical markets.
Under the terms of the agreement, Global Payments paid $413 million in cash, funded by the company’s new unsecured term loan facility, to acquire APT from Great Hill Partners.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Europe and the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. Visit www.globalpaymentsinc.com for more information about the company and its services.
About Great Hill Partners
Great Hill Partners is a private equity firm that manages more than $2.5 billion in capital to finance the expansion, recapitalization or acquisition of growth companies in a wide range of sectors within the business and consumer services, media, communications and software industries. Great Hill targets investments of $25 million to $150 million.