News from the Wire

The Formula executes agreement with Gross Capital Advisers

Thursday, October 30, 2014 — 12:27:37 (EDT)

San Jose, Calif., Oct. 30, 2014 -- The Formula, LLC (The Formula) announced today that it has executed an agreement with Gross Capital Advisers, LLC, an Atlanta, Georgia-based investment and advisory firm. They have been engaged to provide growth and expansion planning services, as well as to identify and introduce appropriate resource partners to scale up for the implementation needs of present and future clients.

Stephen Gross, Partner, Gross Capital Advisors, LLC, stated “The CEO and President of The Formula, David and Michael McMackin (brothers) have developed a software suite to solve longstanding, daily management challenges of the complex global payments industry.

“Banks, payment processors, merchants and consumers will all benefit; the tool suite enables a more productive, more efficient and secure industry. The Formula is helping the payments industry and merchant services move from analog to the digital age.”

Furthermore, PALO ALTO, CALIFORNIA — Wilson Sonsini Goodrich & Rosati has been retained to represent The Formula.

About The Formula, LLC

The Formula’s mission is to empower the worldwide payments industry with software and services designed for humans — to solve productivity, security and other daily challenges of banks, processors, merchants and consumers. Over the last 20 years, The Formula’s principals and their companies have joint ventured, directly or indirectly, with Bank America Merchant Services (BAMS), Chase Paymentech (CPM), First Data (KKR holding), Global Payments (Nasdaq: GPN), KeyBank (KEY), TSYS (Nasdaq: TSYS) and Wells Fargo (WFC).

The Formula’s software solutions solve a large technological business–building gap banks and credit card processors (“Processors”) have with their Resellers. The cloud-based, tailored platform tool suite brings added value to hundreds of thousands of resellers worldwide — a package that has never been commercially offered by other software companies. The technologies do not replace or require the Processor to change any of their systems.

About Gross Capital Advisors, LLC

Gross Capital is a Merchant Banking and advisory firm specializing in the origination, capitalization, operation and execution of value oriented investments — serving investors, privately held operating companies, management teams and capital providers. Principal Stephen Gross, CPA, CGM, CVA, CFE, in role of strategic advisor over the past 35 years, has participated in the launching, growth, going public, financing and serving as board member for hundreds of privately held and public companies such as WebMD (WBMD), Morgan Stanley (MS) Mutual Funds, Legg Mason (LM) Fixed Income Funds.

About Wilson Sonsini Goodrich & Rosati (WSGR)

WSGR has partnered with the world’s most innovative companies for 50 years. WSGR has been instrumental in many of the most notable IPOs, mergers, acquisitions, and other key transactions of Silicon Valley and beyond, for clients such as Arista Networks (ANET), Apple Computer (AAPL), Advanced Micro Devices (AMD), Google (GOOG), LinkedIn (LNKD), Palo Alto Networks (PANW), Pixar (PIXR), Seagate Technology (STX), Sun Microsystems (SUNW) and Sales Force (CRM).

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Source: Company press release.