Report: IPO of Mercury Payment Systems in works


Silver Lake has hired investment banks to lead a potential IPO of payment processing company Mercury Payment Systems, reports Reuters. The news comes not far behind reports competitor Square is exploring an IPO.

A source says the Mercury IPO could come in 2014 H1 and the company could be valued at $2.5B -  a funding round last year valued Square at $3.25B. Mercury booked revenue of $203M in 2012 vs. Square's expectation of $550M this year.

Silver Lake purchased about 60% of the company in 2010, leaving founders Marc and Jeffrey Katz and existing investor Larry Stone owning the remainder.

Other competitors include: EBAY (PayPal), GRPN, INTU, and PAY.

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