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Global Payments Inc. To Acquire Accelerated Payment Technologies

Posted On: 8/21/2012

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TAGS: vending, vending machine, payment systems, Global Payments Inc., electronic transaction processing, Accelerated Payment Technologies

ATLANTA -- Global Payments Inc., a worldwide provider of electronic transaction processing solutions, announced an agreement to acquire Accelerated Payment Technologies.

APT provides payment solutions for small- to mid-size merchants producing a collective $8 billion in annual card volume. The company markets its products and services primarily through a network of 700 resellers covering 30 vertical markets.

Global Payments currently processes the majority of APT's transactions under its existing ISO processing relationship.

Under the terms of the agreement, Global Payments will pay $413 million in cash to acquire APT from Great Hill Partners, a Boston-based private-equity firm.

The transaction is expected to close during Global Payments' second 2013 fiscal quarter, pending regulatory approvals and customary closing conditions.