Paysafe, MCPS consolidate assets, expand reach
L ondon, U.K.-based Paysafe Group plc disclosed July 21, 2017, it will pay $470 million to acquire Delta Card Services Inc., the primary holding company for Merchants’ Choice Payment Solutions (“MCPS”), a Shenandoah, Tex.-based payment processor. A select group of syndicators will fund the transaction, including BMO Capital Markets and Deutsche Bank, representatives stated.
MCPS generates an estimated $14 billion in annual processing volume, mostly from small and midsize merchants. The company’s 2016 pre-tax earnings were $446 million, with gross assets valued at $90.4 million, according to recent reports.
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