Summary
Global Payments Inc. (GPN) announced a significant strategic acquisition on September 15, 2014, entering into a definitive agreement to acquire 100% of the capital stock of Ezidebit, an Australian integrated payments company. This acquisition, valued at AU$305 million subject to adjustments, marks a key expansion for GPN into the Australian and New Zealand markets, particularly within recurring payments verticals. Ezidebit, established in 1998, is recognized for its focus on recurring payment solutions and its established network of software vendors and direct channels. The transaction is anticipated to close in the second quarter of GPN's 2015 fiscal year, contingent upon regulatory approvals and customary closing conditions. This move underscores GPN's commitment to international growth and strengthening its presence in key payment segments.
Key Highlights
- 1Global Payments Inc. (GPN) to acquire 100% of Australian payments company Ezidebit.
- 2Acquisition price set at AU$305 million, subject to customary adjustments.
- 3Ezidebit specializes in recurring payments and operates in Australia and New Zealand.
- 4This acquisition represents a strategic expansion into the Australian and New Zealand markets for GPN.
- 5The deal is expected to close in the second quarter of GPN's fiscal year 2015.
- 6Regulatory approvals in Australia and other customary closing conditions are required for the transaction.
- 7The announcement was made via a press release furnished as an exhibit to the 8-K filing.