Upon closing of the transaction, the combined company will operate as Paya and will be listed on NASDAQ under the new symbol PAYA. The transaction reflects an implied enterprise value for the Company of approximately USD 1.3 billion.
The Paya management team, led by CEO Jeff Hack, will continue to execute the growth strategy of the Company. Paya’s existing majority equity holder GTCR, a private equity firm, will remain the Company’s largest stockholder. GTCR is a long-time investor in financial technology and has advised payments companies in the public markets, including previous investments in VeriFone, Syniverse, and Transaction Network Services.
Paya is a integrated payments provider, processing over USD 30 billion for over 100,000 customers. Through its proprietary card and ACH platform, Paya Connect, Paya partners with software providers to deliver vertically tailored payments solutions to business customers in end markets such as B2B goods and services, healthcare, non-profit, government and utilities, and education.
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