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Global Payments acquires MineralTree for USD 500 mln

Thursday 9 September 2021 12:33 CET | News

US-based Global Payments, a provider of payment technology and software solutions, has announced the purchase MineralTree.

MineralTree is a provider of accounts payable automation and business-to-business (B2B) payments solutions. MineralTree’s software-as-a-service (SAAS) offerings automate key procurement processes, including invoice capture, coding and approval, and help virtual cards and integrated payments options across a variety of vertical markets to digitise payables for customers.

In combination with Global Payments' existing B2B payments capabilities, including knowledge in commercial payments, domestic and international acquiring, payroll, data and analytics, access to non-card based rails and virtual card provisioning, MineralTree’s cloud native solutions expand Global Payments’ target addressable markets and provide incremental avenues for growth.

Under the terms of the acquisition agreement, Global Payments will acquire MineralTree for USD 500 million in cash. Global Payments will finance the acquisition with its existing credit facility and cash on hand. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the fourth quarter of 2021.

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Keywords: acquisition, Global Payments, B2B payments, payment processing, accounts payable
Categories: Payments & Commerce | Online Payments
Countries: United States
This article is part of category

Payments & Commerce