Merchant acquirer and payments technology and services provider for SMBs, TransFirst, owned by buyout firm Vista Equity Partners, has filed for an IPO. Shares to be listed on the Nasdaq under the symbol “TF” with an IPO size of $100 million.
First Data expects to raise $3.7 billion in its initial public offering. The deal involves 160 million shares of its Class A common stock. The initial public offering price is expected to be between $18.00 and $20.00 per share.
CardWeb.com’s CardData database of Company Profiles today features Virgin Money.
The second class of the FinTech Innovation Lab Asia-Pacific
Accenture is open through May 31. The 12-week program helps early- and growth-stage financial technology innovators accelerate product development and gain exposure to top-level financial industry executives.
Shopify is a cloud-based commerce platform designed for small and medium-sized businesses is now going public. Shopify currently powers over 160,000 businesses in approximately 150 countries, including: Tesla Motors, Budweiser, Google, Wikipedia, LA Lakers, GoldieBlox, and many more.
GE Capital has unloaded its Australia and New Zealand consumer lending business for A$8.2 billion (US$6.3 billion). Värde Partners, KKR and Deutsche Bank are the proud new owners of the GE portolio.
CardWeb.com’s CardExecs database of card industy movers and shakers today features Paul Galant, Chief Executive Officer of VeriFone. The company has 5,600 employees worldwide and delivers payment solutions in 150 countries and across vertical markets.
Entersekt announced Swisscard AECS AG has implemented its mobile application Transakt to enable safer, more user-friendly 3-D Secure protection of online purchases. Swisscard is a joint venture between Credit Suisse AG and American Express. Designed to serve as an added layer of security for e-commerce purchases, 3-D Secure has significantly reduced fraud rates, but has proved unpopular with consumers and merchants owing to the cumbersome user experience of many current implementations. Entersekt’s card-not-present authentication solution reinvents the 3-D Secure user experience by enabling consumers to authenticate purchases through their mobile device with the touch of a button.When shoppers registered for the service initiate a transaction on a 3-D Secure e-commerce web site, they receive a push message on their mobile phone with the payment details. They then choose an “Accept” or “Reject” response.
Fintech Innovation LabLeading-edge mobility, data analytics and credit risk solutions were among the six technology innovations demonstrated for top financial services, venture capital and technology executives at the fourth annual FinTech Innovation Lab Demo Day in New York. The Lab is a 12-week mentoring program created by Accenture (ACN) and the Partnership Fund for New York City and supported by more than a dozen of the world’s leading financial institutions to promote financial services technology (“fintech”) innovation and high tech job growth in New York City. This year’s entrepreneurs were chosen by chief technology officers from 15 participating financial institutions. The companies included Enigma, Kasisto, LMRKTS, pymetrics, RevolutionCredit and Standard Treasury. The group has spent the last 12 weeks receiving high level mentoring, product and business development advice and exposure to senior financial industry, technology and venture capital executives. The 18 previous alumni companies have raised a total of more than $76 million in financing after participating in the program since 2010.
DFC Global Corp international diversified financial services company serving primarily unbanked and under-banked consumers announced at the Company’s special meeting of stockholders a majority of the outstanding shares of DFC Global common stock voted to approve the acquisition of DFC Global by an affiliate of Lone Star Funds (“Lone Star”). Houlihan Lokey Capital, Inc. is acting as financial advisor to DFC Global in connection with the transaction. Pepper Hamilton LLP is acting as DFC Global’s legal advisor. Jefferies LLC is acting as lead financial advisor to Lone Star Funds and Credit Suisse Securities (USA), LLC is acting as financial advisor. Jefferies Finance LLC and Credit Suisse AG are providing debt financing commitments for the acquisition.
Vantiv, Inc. announced an agreement to acquire Mercury Payment Systems, LLC for an aggregate price of $1.65 billion. Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Mercury is currently majority-owned by Silver Lake, a global leader in technology investing.
DFC Global serving primarily unbanked and under-banked consumers has entered into a definitive agreement to be acquired by an affiliate of Lone Star Funds (“Lone Star”) in a transaction, including the assumption of net debt, valued at approximately $1.3 billion. Upon completion of the transaction, DFC Global will become a privately held company. Under the terms of the agreement, DFC Global stockholders will receive $9.50 in cash for each share of DFC Global’s common stock they own. This represents a premium of approximately 5.8% to DFC Global’s closing stock price on April 1, 2014, and a premium of 12.3% to DFC Global’s 30-day volume weighted average stock price for the period ended April 1, 2014. The agreement was unanimously approved by DFC Global’s Board of Directors. The transaction is subject to customary closing conditions, including receipt of stockholder approval and certain approvals from both U.S. and foreign regulators. Competition-related approval requirements are expected to be limited in number. The acquisition requires the affirmative vote of the holders of a majority of the outstanding shares of the Company’s stock, which will be sought at a special meeting of stockholders. The transaction is expected to close in the third calendar quarter of 2014.