8-KAcquisitions & DispositionsExhibits & Filings

GLOBAL PAYMENTS INC 8-K Report, Acquisition Completed (May 28, 2010)

Filed May 28, 2010For Securities:GPN

Summary

Global Payments Inc. (GPN) announced the completion of the divestiture of its DolEx and Europhil-branded money transfer business on May 26, 2010. This strategic move resulted in the company receiving $85 million in proceeds from an affiliate of Palladium Equity Partners, LLC. This disposition marks a significant shift in the company's operational focus, likely allowing for greater concentration on core payment processing and technology services. Investors should note that this report also includes unaudited pro forma consolidated statements of income, adjusted to reflect the impact of this divestiture on past financial performance. This information is crucial for understanding the company's financial trajectory post-transaction and evaluating its future strategic direction. The CFO, David E. Mangum, signed off on this report, underscoring the financial significance of this event.

Key Highlights

  • 1Global Payments Inc. (GPN) completed the sale of its DolEx and Europhil money transfer business on May 26, 2010.
  • 2The divestiture was made to an affiliate of Palladium Equity Partners, LLC.
  • 3The company received $85 million in proceeds from the sale.
  • 4This action signals a strategic refocusing of the company's operations.
  • 5Unaudited pro forma financial information reflecting the impact of the disposition is included.
  • 6The filing date of the report is May 28, 2010.
  • 7David E. Mangum, Chief Financial Officer, signed the report.

Frequently Asked Questions

Global Payments Inc. sold its DolEx and Europhil-branded money transfer business.

The company received $85 million in proceeds from the sale.

The business was acquired by an affiliate of Palladium Equity Partners, LLC.

This sale is significant as it represents a strategic divestiture, allowing Global Payments Inc. to potentially focus more on its core payment processing and technology services. The inclusion of pro forma financial information helps investors understand the financial impact of this change on past performance.