Global Payments, a US-based provider of software and payment systems, plans to buy paytech company EVO Payments. EVO will be purchased by Global Payments in an all-cash deal for $34 per share, or $4 billion in enterprise value. The deal is expected to be completed by the first quarter of 2023.
Global Payments claims that the transaction will “significantly” expand its target markets and aid in its expansion into new countries like Poland, Germany, Chile, and Greece as well as into already established areas like the US, UK, Canada, Mexico, Spain, and Ireland.
With the inclusion of EVO’s accounts receivable software with third-party acceptance, the acquisition will also enhance its B2B software and payment solutions.
According to Cameron Bready, president and chief operating officer (COO) of Global Payments, “the acquisition of EVO is highly complementary to our technology-enabled strategy and provides meaningful opportunities to increase scale in our business globally.”
As part of the transaction, EVO also intends to include significant technology partners and proprietary integrations.
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