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United States : VANTIV takes over MERCURY PAYMENT SYSTEMS in $1.65 BILLION deal

May 14, 2014

Vantiv ( declared that it has agreed to buy Mercury Payment Systems, LLC in a total consideration of $1.65 billion.

The transaction, which Vantiv will fund with committed financing, is anticipated to boost the company's growth in the integrated payments space.

It is estimated that the transaction will be completed in the Q2 of 2014, after receiving all the needed U.S. antitrust clearance and other customary closing conditions.

Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Mercury is currently majority-owned by Silver Lake, a global leader in technology investing.

Matt Taylor, chief executive officer of Mercury said, Vantiv and Mercury are aligned in our desire to create integrated software solutions that fulfill the specialized needs of merchants. Software developers and dealers are helping to lead the way for the future of payments, and combining with Vantiv puts us in a strong competitive position to jointly offer a broader set of value-added products and services to our partners and merchants. Mike Bingle, a managing director and managing partner of Silver Lake said, It has been a privilege to partner with Mercury, and we are proud of the company s accomplishments since our investment in 2010. Mercury pioneered the offering of integrated payments solutions to merchants and has driven rapid growth by leveraging its large network of partners and pursuing innovative new technologies and services.

Following the completion, Matt Taylor and the Mercury management team will continue with the company, which will maintain its locations in Colorado.

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Source: TendersInfo (India)

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