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M&A transaction overview Q3 2020

M&A transaction overview - EY

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Page 1: M&A transaction overview - EY

M&A transaction overview Q3 2020

Page 2: M&A transaction overview - EY

02 #payments M&A tracker

Date announced Target company Market Target description Buyer(s) Market

Enterprise value

(US$m)

Stake (%)

1 06–07–2020 FOMO Pay Pte. Ltd. Singapore FOMO Pay Pte. Ltd. offers merchant and digital banking solutions. It offers payment processing, digital payment collection, real-time reporting, QR code payments, in-Store Payment, in-App Payment, and enterprise solutions.

AMTD Digital Hong Kong, China

– –

2 09–07–2020 payolution GmbH Austria payolution GmbH, doing business as Paysafe Pay Later, provides online services and operates as a payment facilitator between merchants and financial institutions.

heidelpay GmbH Germany – 100%

3 14–07–2020 China Smartpay Group Holdings Limited

Hong Kong, China

China Smartpay Group Holdings Limited, an investment holding company, primarily engages in the prepaid cards and internet payment businesses in the China Mainland, Hong Kong, Thailand, and Singapore.

– - – 14.70%

4 14–07–2020 TransferWise Ltd. United Kingdom

TransferWise Ltd. provides international money transfer services.

Lone Pine Capital LLC; Fidelity Investments; Senderwood LLP; D1 Capital Partners L.P.

– – –

5 15–07–2020 Finweg, SA Spain Finweg, SA develops digital payment solutions on block chain technology to facilitate the offer of services provided by the financial institutions in Spain, Latin America, and the United States.

Bankia Fintech Venture S.A.

Spain – 20%

6 16–07–2020 Netgíró hf. Iceland Netgíró hf. provides e-wallet services. The company provides application software for withdrawals, payments, and online shopping.

Kvika banki hf. Iceland – 80%

7 17–07–2020 Société Maghrébine de Monétique

Morocco Société Maghrébine de Monétique engages in the development, integration, and maintenance of electronic-payment solutions for financial institutions, oil companies, commercial brands, telecoms operators, etc. in Africa and internationally.

SA MEDTECH Morocco 18.55 52.94%

8 23–07–2020 cPayPlus, LLC United States

cPayPlus, LLC offers payments software and services to automotive, property management, and field services.

Repay Holdings Corporation

United States

16.00 100%

9 27–07–2020 Moka Odeme Kurulusu A.S.

Turkey Moka Odeme Kurulusu A.S. develops mobile payment solutions.

Türkiye Is Bankasi A.S.

Turkey 3.80 100%

10 27–07–2020 Openbucks Corp. United States

Openbucks Corp. operates a gift card payment network that enables the users to purchase digital goods online.

Paysafe Group Limited

United Kingdom

– 100%

11 28–07–2020 The Direct Pay Online Group

Ireland The Direct Pay Online Group operates a cloud based payment processing platform that support multiple transaction types with online and offline capabilities for consumers.

Network International Holdings plc

United Arab Emirates

288.00 100%

12 29–07–2020 Yaypay Inc. United States

Yaypay Inc. develops a cloud-based accounts receivable software solution that automates payment workflows.

Quadient S.A. France 23.00 87%

13 30–07–2020 Joust Labs, Inc. United States

Joust Labs, Inc. develops a payment toolkit for freelancers and entrepreneurs.

ZenBusiness, Inc. United States

– 100%

M&A

Page 3: M&A transaction overview - EY

03 #payments M&A tracker

Date announced Target company Market Target description Buyer(s) Market

Enterprise value

(US$m)

Stake (%)

14 30–07–2020 Mobilize Systems Limited

United Kingdom

Mobilize Systems Limited offers engagement and mobile loyalty platform serving the retail and hospitality sectors.

Trust Payments Ltd United Kingdom

– 100%

15 30–07–2020 Multi Service Technology Solutions Inc.

United States

Multi Service Technology Solutions Inc., a transaction management company, provides billing and payment solutions.

Corsair Capital LLC United States

375.00 100%

16 30–07–2020 Muxi Tecnologia em Pagamentos S.A.

Brazil Muxi Tecnologia em Pagamentos S.A. develops technology solutions for the capture and automation of electronic transactions.

Conductor Tecnologia S.A.

Brazil – 100%

17 31–07–2020 Comercia Global Payments Entidad de Pago, S.L.

Spain Comercia Global Payments Entidad de Pago, S.L. was founded in 2010 and is headquartered in Madrid, Madrid, Spain. It provides payment management service. It operates as a subsidiary of Global Payments Inc.

Global Payments Inc.

United States

2011.12 29%

18 31–07–2020 OPAY Inc. Canada OPAY Inc. provides online payment gateway services.

Citcon USA LLC United States

– 100%

19 31–07–2020 Avila House Limited United Kingdom

Avila House Limited develops the platform to offer global financial ecosystem that allows people to make multi-currency transactions from their mobile and any part of the world, without high commissions of the banks and exchange houses.

Fxpress Payment Services Ltd.

United Kingdom

– 100%

20 03–08–2020 Mobeewave Inc. Canada Mobeewave Inc. develops a PCI-compliant mobile point of sale platform that enables merchants to accept payments by tapping a contactless payment card on the back of their NFC-enabled mobile device.

Apple Inc. United States

100.00 100%

21 03–08–2020 FinTech Acquisition Corp. III

United States

FinTech Acquisition Corp. III does not have significant operations.

Paya, Inc. United States

– 100%

22 06–08–2020 LOGBANKLOGBANK SOLUÇÕES DE PAGAMENTOS S.A.

Brazil LOGBANKLOGBANK SOLUÇÕES DE PAGAMENTOS S.A. operates as an electronic payment company providing White Label, a digital banking platform and Payment Arrangement solutions.

Itaú Unibanco Serviços e Processamento de Informações Comerciais S.A.

Brazil – 100%

23 07–08–2020 Achiko AG Switzerland Achiko AG operates as a platform company in Indonesia and Switzerland. It owns and operates technologies that enable consumers to pay.

Negma Group Ltd. United Arab Emirates

– 7.58%

24 10–08–2020 Strategic Payment Systems, Inc.

United States

Strategic Payment Systems, Inc. provides merchant services to sales offices, financial institutions, and associations.

Payroc LLC United States

– 100%

25 11–08–2020 Blue Dog Business Services, LLC

United States

Blue Dog Business Services, LLC provides merchant payment processing services and related software and hardware solutions.

Fortis Payment Systems, Llc

United States

– 100%

26 11–08–2020 Cash-N-Go ATM portfolio of Cash N Go ATM Network Inc.

United States

As of August 11, 2020, Cash-N-Go ATM portfolio of Cash N Go ATM Network Inc. was acquired by Payment Alliance International, Inc. Cash-N-Go ATM portfolio of Cash N Go ATM Network Inc. comprises automated teller machine and cash distribution solutions business.

Payment Alliance International, Inc.

United States

– 100%

M&A

Page 4: M&A transaction overview - EY

04 #payments M&A tracker

Date announced Target company Market Target description Buyer(s) Market

Enterprise value

(US$m)

Stake (%)

27 20–08–2020 Shanghai Oriental Culture Commercial Co.,Ltd.

China Mainland

Shanghai Oriental Culture Commercial Co.,Ltd. offers magnetic stripe consumer cards for shopping, payment, and settlement management.

Chengdu Xiecheng Travel Service Co., Ltd.

China Mainland

– 100%

28 21–08–2020 Wirecard Brasil S.A. Brazil Wirecard Brasil S.A. provides online payment management services.

PagSeguro Internet S.A.

Brazil – 100%

29 24–08–2020 STOQ Tecnologia LTDA

Brazil STOQ TECNOLOGIA LTDA manufactures cloud-based point of sale (POS) systems.

Magazine Luiza S.A.

Brazil – 100%

30 25–08–2020 Trade-Safe Holdings (Pty) Ltd.

South Africa

Trade-Safe Holdings (Pty) Ltd. an online platform that provides digital financial escrow and payments services.

Standard Bank Group Limited

South Africa – 35%

31 25–08–2020 Chime Inc. United States

Chime Inc. develops an application to send money.

WorldRemit Ltd United Kingdom

– 100%

32 26–08–2020 PT Weyland Indonesia Perkasa

Indonesia PT Weyland Indonesia Perkasa designs and develops an online payment mobile application, known as Atozpay.

Weyland Tech Inc. (nka:Weyland Tech Inc.)

United States

– 20%

33 27–08–2020 PT Empat Kali Indonesia

Indonesia PT EMPAT KALI INDONESIA provides payment services.

Afterpay Limited Australia 2.00 100%

34 27–08–2020 Assets of Wirecard Card Solutions Limited

United Kingdom

Assets of Wirecard Card Solutions Limited comprises card technology and associated assets and is located in United Kingdom.

PayrNet Limited United Kingdom

– 100%

35 31–08–2020 iServeU Technology Private Limited

India iServeU Technology Private Limited, a fintech company, provides payment solutions, such as money transfer, cash deposits, cash withdrawal, and lending.

Niyogin Fintech Limited

India – 51%

36 01–09–2020 giropay GmbH Germany giropay GmbH allows customers to use their internet banking facility to pay for purchases whilst online.

paydirekt GmbH Germany – 100%

37 01–09–2020 Fxpress Payment Services Ltd.

United Kingdom

Fxpress Payment Services Ltd., trading as Plutus FX, develops payment services platform that provides foreign exchange services offered by the High Street Banks.

Cornerstone Brands, Inc.

United States

– 100%

38 04–09–2020 Wuhan Hezhong Yibao Technology Co. Ltd (UIPay)

China Mainland

Wuhan Hezhong Yibao Technology Co. Ltd develops and operates UIpay payment platform that offers online payment services.

Tianjin Tongrong E-commerce Co Ltd.

China Mainland

– 100%

39 08–09–2020 Avangate B.V. (2Checkout)

Netherlands Avangate B.V. develops and provides e-commerce and subscription billing platform to software, software as a service (SaaS), and cloud services companies.

VeriFone Systems, Inc.

United States

– 100%

40 10–09–2020 Wameja Limited Australia Wameja Limited provides cross-border payment services in the Middle East, the Asia Pacific, Africa, and internationally.

Mastercard Incorporated

United States

120.82 100%

41 10–09–2020 U.S. Dataworks, Inc.

United States

U.S. Dataworks, Inc. develops and offers payments and integrated receivables software solutions.

CheckAlt LLC United States

– 100%

42 10–09–2020 Swift Payments Canada Swift Payments provides merchant services and offers payment processing services.

Paystone Inc. Canada – 100%

43 11–09–2020 All the business assets of Wirecard NZ Limited and Wirecard Australia Pty Ltd

New Zealand

As of September 30, 2020, All the business assets of Wirecard NZ Limited and Wirecard Australia Pty Ltd was acquired by Change Financial Limited.

Change Financial Limited

Australia 5.68 100%

M&A

Page 5: M&A transaction overview - EY

05 #payments M&A tracker

Date announced Target company Market Target description Buyer(s) Market

Enterprise value

(US$m)

Stake (%)

44 15–09–2020 Klarna Bank AB (publ)

Sweden Klarna Bank AB (publ) provides payment and shopping solutions for consumers and merchants online in Sweden, Germany, Austria, Switzerland, Norway, and internationally.

TCMI Inc.; Bonnier Corporation; Merian Global Investors (UK) Limited; Merian Chrysalis Investment Co. Ltd; Northzone

– – –

45 17–09–2020 Valyou Sdn Bhd Malaysia Valyou Sdn Bhd provides services to send money overseas from Malaysia to its Branches and International Remittance Agents.

Merchantrade Asia Sdn Bhd

Malaysia – 100%

46 17–09–2020 Associated Foreign Exchange, Inc.

United States

Associated Foreign Exchange, Inc. provides global payment, foreign currency, and risk management services.

FLEETCOR Technologies, Inc.

United States

– 100%

47 21–09–2020 The Payment Group, LLC

United States

The Payment Group, LLC provides online payment service to courts, agencies and departments.

Paya, Inc. United States

21.00 100%

48 22–09–2020 Sentral United States

Offers a debit gateway technology and business that helps large publishers track debit network transactions in the card-linked offer (CLO) space.

numo United States

0.00 100%

49 22–09–2020 Spondula Ltd United Kingdom

Spondula Ltd offers global banking and money transfer platform for individuals and businesses.

Future FinTech Group Inc.

China 6.00 51%

50 22–09–2020 Hype S.P.A. Italy Hype S.P.A. operates as an electronic money institution that engages in providing e-money accounts and payment cards.

illimity Bank S.p.A. Italy – 50%

51 24–09–2020 QuadPay, Inc. United States

QuadPay, Inc. designs and develops payment platform through which users can pay for their purchases.

Oaktree Capital Management, L.P.

United States

– –

52 24–09–2020 ImagineTime Inc./TimeSolv Corp./Rocket Matter, LLC

United States

ImagineTime Inc./TimeSolv Corp./Rocket Matter, LLC represents combined operations of ImagineTime Inc., TimeSolv Corp., and Rocket Matter, LLC in their sale to Lightyear Capital LLC. ImagineTime Inc. provides practice management and payments services.

Lightyear Capital LLC; Greater Sum Ventures, LLC

– – 100%

53 28–09–2020 Prego International Group AS

Norway Prego International Group AS, a global payment solution provider, develops and operates a range of payment services for partners and clients in Norway and internationally.

ZeU Sub Canada 7.14 100%

54 28–09–2020 Wirecard Romania S.A.

Romania Wirecard Romania S.A. provides card transactions processing, card personalization, and retail sector services.

SIBS — Sociedade Interbancária de Serviços, S.A.

Portugal 58.15 100%

55 29–09–2020 Yours Inc. United States

Yours, Inc. designs and develops cryto focused mobile application which enables contributors to earn bitcoin cash for creating content, voting, and commenting.

The Bayesian Group

Canada – 100%

56 29–09–2020 DinDin Soluções Financeiras S.A

Brazil DinDin Soluções Financeiras S.A operates as a digital payment wallet.

CARSON SERVIÇOS FINANCEIROS SA

Brazil – 100%

M&A

Page 6: M&A transaction overview - EY

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