Payments software firm Global Payments is set to acquire payment technology and acquiring solutions firm EVO Payments for $4 billion, according to a Monday (Aug. 1) news release.
The all-cash transaction — valued at $34 per share — will increase Global Payments’ target addressable markets and expand its presence into new parts of the world, and add accounts receivable software with broad third-party acceptance to itsB2B software and payment solutions, per the release.
“The acquisition of EVO is highly complementary to our technology-enabled strategy and provides meaningful opportunities to increase scale in our business globally,” Global Payments President and Chief Operating Officer Cameron Bready said in the announcement.
He added that the acquisition gives the company a customer base of 4.5 million merchants and more than 1,500 financial institutions around the world.
Read more: EVO Payments to Provide Merchant Acquiring, Payment Processing for National Bank of Greece
The deal, set to close no later than the first quarter of 2023, brings Global Payments’ offerings to new countries, including Poland, Germany, Chile and Greece. Last year, EVO launched a partnership with the National Bank of Greece, with the bank spinning off its merchant acquiring business into something new, and selling EVO a 51% interest.
The transaction involved NBG referring customers to the joint venture, with EVO overseeing the venture and providing card acceptance solutions.
Learn more: EVO Payments Adds North49 for B2B Integrated Payments
EVO acquired a company of its own earlier this year with its purchase of Sage development partner North49 Business Solutions to provide Sage customers with improved B2B integrated payment solutions.
North49 provides accounts receivables products and business automation tools to help customers streamline their payment systems to the Sage 300 and Sage Intacct solutions.
The deal expanded EVO’s portfolio of enterprise resource planning (ERP) integrations to include Sage accounting software, which the company said lets it sign new partners and merchants within the Sage ecosystem.
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