Paymetric auction draws GTCR, Welsh Carson, CardConnect: sources

First-round bids for FranciscoPartners-backed Paymetric, an electronic- payments software firm, are due March 13, three sources said.

CardConnect, GTCR and Welsh, Carson, Anderson & Stowe are expected to make proposals, two of the sources said. Vantiv is also interested, a fourth source said.

Francisco put Paymetric up for sale in February, Buyouts reported. The firm is seeking $500 million for Paymetric. William Blair is advising, the story said.

Paymetric, Atlanta, provides payment-processing-software for corporations. Francisco acquired a majority of Paymetric in 2013. The sellers at the time included Palomar Ventures and Austin Ventures.

Some potential bidders have dropped out of the auction, citing Paymetric’s high price tag, the first source said.

Francisco Partners, San Francisco, invests in technology companies. The firm’s last flagship fund, Francisco Partners IV LP, collected $2.88 billion in 2015. In 2016, Francisco closed its Agility fund, a pool to invest in smaller tech deals. Agility closed with $600 million in October.

Executives for Vantiv, GTCR, Welsh Carson and Francisco Partners declined comment. Paymetric and CardConnect could not be reached for comment.

Action Item: Contact Paymetric CEO Asif Ramji: +1 678-242-5281

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