Paysafe acquires merchants' choice payment solution for $ 470 million
- 7월 25, 2017
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Paysafe acquires merchants' choice payment solution for $ 470 million
Paysafe Group plc, the global provider of payment solutions, announced today that it has agreed to acquire all the assets of its holding company, Delta Card Services Inc.
MCPS, a payment processor in the Houston suburbs of Shenandoah, Texas, is a data-centric, full-service payment processor for North American merchants and sophisticated, massive independent sales organizations.
MCPS, which provides card processing services to approximately 60,000 merchants in 50 states and processes more than $ 14 billion in sales annually, is a leading supplier of small and medium-sized businesses.
With the acquisition of MCPS, Paysafe's processing scale and product set for ISO and merchants in North America will expand. By adding POS activity to Paysafe's Processing department, we have significantly enhanced POS, online and order advance processing capabilities through a single, real-time, integrated analytical platform.
Meritus, a subsidiary of Paysafe Processing, is an existing partner of MCPS. Therefore, some of the revenues of MCPS are treated as intercompany transactions in the combined business. In addition, MCPS is acquiring a merchant portfolio in some ISOs prior to acquisition, which reduces the cost of third-party payments to partners from the date of acquisition.
If MCPS was owned by Paysafe in fiscal year 2016 and the franchise portfolio acquired in the beginning of the year, MCPS's consolidated revenues in 2016, excluding intercompany transactions, increased by 6% to $ 329 million, Was $ 72 million.
The Pro-forma adjustment to MCPS, EBITDA1, was $ 49 million, representing a 15.3% Profama EBITDA margin.
The combination with MCPS is expected to result in an annual cost increase of approximately $ 7.5 million in addition to certain revenue synergies.
In 2016, Paysafe's revenue exposure for online gambling decreased from approximately 46% to 35% and Asia Gateway business decreased from approximately 13% to 10%.
The MCPS acquisition constitutes a Class 2 transaction for the purposes of the listing rules of the UK Financial Conduct Supervisory Authority. The acquisition is expected to close in the third quarter of 2017.
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