Great Hill Partners completes acquisition of Versapay

Tuesday 25 February 2020 10:45 CET | News

Private equity company Great Hill Partners has announced the completion of the previously announced acquisition of VersaPay Corporation.

VersaPay Corporation is a fintech provider of cloud-based invoice-to-cash solutions and integrated payments technology platform for B2B customers.

According to IBS Intelligence, The acquisition is per the statutory plan of arrangement under the Canada Business Corporations Act (the “Arrangement”). As part of the agreement, each VersaPay shareholder will receive cash consideration of USD 2.70 for each common share held, valuing VersaPay’s total equity at approximately USD 126 million on a fully diluted basis as anticipated by the companies.

Founded in 2006, Versapay’s proprietary VersaPay ARC platform provides Customer-Centric AR that helps customers visualise invoices online, collaborate on inquiries and disputes, and facilitate secure online payments via EFT/ACH and credit card. It automatically reconciles payments and account information through integrations with ERPs and accounting software providers.

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Keywords: Great Hill Partners, acquisition, VersaPay, invoices, payments
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech