May 12, 2014, 4:57 PM
- Vantiv (VNTV) is buying payment-processor Mercury Payment Systems for $1.65B in cash from P-E firm Silver Lake. The deal will be paid for with "committed financing," and is expected to close in Q2.
- Mercury had 2013 revenue of $237M (+17% Y/Y), and adjusted EBITDA of $93M. The company relies on a network of 3K+ software developers and resellers to offer its services to small/mid-sized businesses.
- Vantiv expects the acquisition to be "modestly accretive" to EPS in 2014, with "accelerating accretion in 2015." The company asserts significantly expands its presence in the growing integrated payments space.
- Earlier: Vantiv reportedly close to acquiring Mercury Payment
VNTV vs. ETF Alternatives
Vantiv Inc is an integrated payment processor differentiated by a single, proprietary technology platform. The Company operates as a single integrated business and its segments include Merchant Services and Financial Institution Services.
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