FIS has acquired Payrix, a fintech company. No financial terms were disclosed. Payrix was backed by PSG and Blue Star Innovation Partners.
BOSTON–(BUSINESS WIRE)–PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies to help accelerate their growth, and investment fund Blue Star Innovation Partners (“BSIP”) today announced they have sold Payrix to FIS. Financial terms of the transaction were not disclosed.
Founded in 2015, Payrix is an innovative fintech company that specializes in servicing software as a service (SaaS) companies who want to embed payments into their offerings and enhance the payments experience. The company provides the tools to create a seamless, embedded user experience and offers clients the choice of payment facilitation-as-a-service (PFaaS) or a full payment infrastructure (payment IaaS) product based on business appetite.
“It has been a pleasure to work alongside the talented team at Payrix and witness their extraordinary growth throughout our investment period,” said Marco Ferrari, Managing Director at PSG. “We thank the Payrix team for their partnership and look forward to their continued success.”
“We’re proud of our team at Payrix and excited for their future growth at FIS,” said Rob Wechsler, Founder and GP of BSIP.
Weil, Gotshal & Manges LLP acted as legal advisor and FT Partners served as financial advisor to Payrix.
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 95 companies and facilitated over 375 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, and Spain. To learn more about PSG, visit www.psgequity.com.