Thoma Bravo private equity investment firm sold its Digital Insight Corporation digital banking to NCR Corporation. With a ticket price of $1.65 billion, the sale is projected to close in 1Q/14. Digital Insight, formerly Intuit Financial Services, a division of Intuit, Inc., was acquired by Thoma Bravo in August of 2013. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo.
As part of a definitive agreement, Accenture will acquire Acquity Group, a leading digital marketing and eCommerce company. Accenture has agreed to pay $13.00 per outstanding American Depositary Share, each of which represents two ordinary shares ($6.50 per ordinary share), or a total of approximately $316 million, in cash for Acquity Group. Acquity Group provides strategy, digital marketing, and technical services to hundreds of companies to enhance their brand experiences and eCommerce performance. The acquisition will broaden Accenture’s own services in these areas, which the company provides through Accenture Interactive, its group that offers chief marketing officers (CMOs) and brand leaders a comprehensive suite of marketing, technology and analytics solutions to help them improve their marketing performance. Acquity Group is the second-largest independent digital marketing company in the United States.
GTCR has agreed to acquire a majority stake in BServ SaaS provider offering financial services and banking technology that facilitates electronic corporate payments and bank-to-bank payment transactions. The Company offers Fedwire processing, SWIFT messaging, remote deposit capture, mobile and online payment processing technology and services for financial institutions and corporations. BankServ has completed a number of successful acquisitions and has earned a strong reputation in the market by providing leading software and technology solutions combined with high quality customer service.
GTRC has signed a definitive purchase agreement with Fifth Third Processing Solutions to sell its National Processing Company (NPC). NPC merchant acquirers provides integrated electronic payment solutions and services targeted exclusively toward the small to medium sized enterprise segment. Through its broad distribution network and more than forty years experience in the payments industry, the payments processing business will extend Fifth Third Processing Solutionsâ ability to provide best-in-class capabilities to its client base and will expand the Companyâs already strong commitment of providing innovative electronic payment solutions to a more diversified client base that will now include ISOs and agent banks.
The Seattle Chapter of the National Investor Relations Institute (NIRI) announced J.Scott Di Valerio, Coinstar CFO, will be the keynote speaker for the NIRI-Seattle 2010 Investor Communications Awards Gala. The event will be held Thursday, June 24 at the Woodmark Hotel in Kirkland, WA, beginning at 5:30 p.m. with a hosted cocktail reception, followed by dinner and awards presentations. The judges are Neil Neroutsos, president, Puget Sound Public Relations Society of America and Jeffery L. Lippens, principal, Garde Capital, Inc.
In conjunction with the Vancouver 2010 Olympic and Paralympic Winter Games, Visa announced it will be equipping 550 Coca-Cola vending machines with its “payWave” contactless payment terminals in Canada, most of which will be located in official Olympic venues. These venues include the Olympic and Paralympic Villages in Whistler and Vancouver and two Vancouver training centers. This solution allows customers to “wave and go” when buying a Coca-Cola product from the vending machines, which is closely aligned with Visa Canada’s migration to chip card technology. Both the Visa “payWave” card and the Visa “payWave” terminal have built-in security measures.
In conjunction with the “Vancouver 2010 Olympic and Paralympic Winter Games,” Visa announced it will be equipping 550 Coca-Cola vending machines with its “payWave” contactless payment terminals in Canada, most of which will be located in official Olympic venues. According to CardFlash International, these venues include the Olympic and Paralympic Villages in Whistler and Vancouver and two Vancouver training centers. This solution allows customers to “wave and go” when buying a Coca-Cola product from the vending machines, which is closely aligned with Visa Canada’s migration to chip card technology. Both the Visa “payWave” card and the Visa “payWave” terminal have built-in security measures.
London-based Apax Partners, a major investor in financial services and media, has signed a deal to purchase Bankrate for about $571 million in cash. The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, Savingforcollege.com, Fee Disclosure, InsureMe, CreditCardGuide.com and Bankaholic.com. Recent investments by the Apax Partners Media and Financial & Business Services division include: Trader Media, EMap, Cengage Learning, Travelex, Hub International, Global Refund and Azimut. Separately, Bankrate reported preliminary second quarter results which show that total revenue for the second quarter fell 23% year-on-year to $31 million. Net income is expected to be $1.9 million, compared to $4.1 million for 2Q/08. As of yesterday the Apax deal represented a premium of 15.8% over Tuesday’s closing stock price and 18.2% over the average closing price for the previous ten trading days.
Fidelity National Information Services has completed a deal to acquire Metavante Technologies for $2.94 billion. FIS is a provider of core and transaction processing services, card issuer solutions and outsourcing services to more than 14,000 financial institutions worldwide. Metavante is a provider of banking and payments technologies to approximately 8,000 financial services firms and businesses. The two companies serve complementary customer bases and have highly diversified and recurring revenue streams. In 2008, the companies generated pro forma combined revenue of $5.2 billion. William Foley, chairman of FIS. will serve as chairman of the combined company. Lee Kennedy, FIS president and CEO will serve as executive vice chairman of the board with responsibility for integrating the two companies. Frank Martire, Metavante’s current chairman and CEO will become president and CEO of FIS.
TN-based incentive program provider VIPGift has received a majority investment from Summit Partners, a private
equity and a private equity and venture capital firm and
Bridgescale Partners, a late-stage venture capital and private equity firm.
Clients use VIPGift’s products and services for customer
acquisition and retention programs, employee incentive and reward programs, marketing
initiatives, and consumer rebate programs. VIPGift offers a wide array of
customized rewards including points, certificate, and prepaid card based
programs. A. Hamid Andalib, VIPGift’s Founder and CEO, has sold a majority stake
to Summit Partners and Bridgescale Partners. He will remain involved in the
business, both as an investor and advisor. As part of the transaction, Summit Partners and
Bridgescale Partners have brought in Richard Char as President, and
Patrick Gildea as Senior Vice President of Finance and Corporate Development.
LML has signed a payment license agreement with First American Payment
Systems and Certified Payment Processing. With this agreement, First
American and Certified Payment can implement LML’s patented electronic
check conversion in the Direct Consumer Field. LML is a top financial
payment processor throughout Canada. LML was represented in the license negotiations by Chicago-based Kirkland & Ellis.
Dallas-based Alliance Data Systems is going private following a deal to be acquired by Blackstone Capital Partners for about $7.8 billion in cash and debt assumption. Blackstone will acquire all of ADS common stock at $81.75 per share in cash, representing a 30% premium over yesterday’s closing price. The deal is expected to close year-end. ADS posted record first quarter revenue of $549.2 million, a 15% increase over the year-ago quarter. Net income rose 1% to $56.9 million driven by strong performance in its Marketing Services unit, according to CardData ([www.carddata.com]). The ADS/Blackstone deal follows last month’s news that First Data signed an agreement to be acquired by Kohlberg Kravis Roberts for about $29 billion. Under the agreement, FDC shareholders will receive a premium of approximately 34%. (CF Library 4/2/07; 4/19/07)