M&A Deal Summary

Global Payments Acquires MineralTree

On September 8, 2021, Global Payments acquired software company MineralTree from Eight Roads and Great Hill Partners for 500M USD

Acquisition Highlights
  • This is Global Payments’ 2nd transaction in the Software sector.
  • This is Global Payments’ 7th largest (disclosed) transaction.
  • This is Global Payments’ 12th transaction in the United States.
  • This is Global Payments’ 1st transaction in Massachusetts.

M&A Deal Summary

Date 2021-09-08
Target MineralTree
Sector Software
Buyer(s) Global Payments
Sellers(s) Eight Roads
Great Hill Partners
Deal Type Add-on Acquisition
Deal Value 500M USD

Target

MineralTree

Waltham, Massachusetts, United States
website
MineralTree is a provider of accounts payable and payment automation solutions for middle-market businesses. More than 2,000 mid-market and mid-enterprise companies, as well as more than 25 financial institutions, rely on MineralTree to digitize and optimize the entire AP Automation and Payments process, preserving control over the complete invoice-to-payment workflow, improving vendor relationships, maximizing ROI, and transforming the finance function from a cost center to a profit center. MineralTree was founded in 2010 and is based in Waltham, Massachusetts.

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Buyer(S) 1

Buyer

Global Payments

Atlanta, Georgia, United States

website


Category Company
Founded 1967
Sector Financial Services
Employees24,000
Revenue 9.0B USD (2022)
DESCRIPTION
View of Global Payments' corporate headquarters in Atlanta, Georgia.
View of Global Payments' corporate headquarters in Atlanta, Georgia.

Global Payments is a worldwide provider of payment technology services. The Company's payment solutions enables merchant customers to accept card, electronic, check and digital-based payments at the point of sale. Global Payments' primary business model provides payment services directly to merchants as customers. The Company also provides similar services indirectly through financial institutions and a limited number of independent sales organizations. Global Payments was founded in 1967 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 19 of 20
Sector (Software) 2 of 2
Type (Add-on Acquisition) 18 of 19
State (Massachusetts) 1 of 1
Country (United States) 12 of 13
Year (2021) 2 of 2
Size (of disclosed) 7 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Zego

San Diego, California, United States

Zego is a payments technology and resident engagement platform for the residential real estate industry that unifies critical resident touchpoints into one app. The Company’s mobile-first platform delivers portfolio-wide efficiency, higher NOI and more engaged residents by seamlessly integrating payment, billing and utility expense management capabilities with a proprietary resident engagement and communication portal. Zego also provides smart home device functionality. Zego serves 6,000 residential real estate companies and over 12 million units nationwide. Zego was founded in 2003 and is based in San Diego, California.

Buy $925M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 Global Payments - Netspend Consumer Business

Atlanta, Georgia, United States

Netspend is a prepaid and debit card space serving millions of customers nationwide, processing hundreds of billions of dollars of cardholder purchases, and established the largest retail partner network with over 130,000 locations nationwide where consumers can load their prepaid and debit card products. Netspend’s consumer products are also available online via direct-to-consumer mobile and web channels.

Sell $1.0B

Seller(S) 2

DESCRIPTION

Eight Roads is a private investment firm focused on a variety of investment opportunities across the US, Europe, and Asia. The Firm is divided into several investment strategies including venture, principal investing, and real estate. Within the principal investments group, Eight Roads backs established growth businesses with long-term capital. Eight Roads does not have any sector preferences, but has experience in fintech, business services, and healthcare. Eight Roads is based in London.


DEAL STATS #
Overall 84 of 95
Sector (Software) 7 of 7
Type (Add-on Acquisition) 36 of 42
State (Massachusetts) 19 of 25
Country (United States) 50 of 58
Year (2021) 17 of 25
Size (of disclosed) 6 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-07 Paidy

Tokyo, Japan

Paidy is a platform for consumers to pay at online stores using only their name and email address. It is optimized for mobile and instant-checkout, Paidy allows consumers to buy online and does not require a credit card or pre-registration. Paidy was founded in 2008 and is based in Tokyo, Japan.

Sell ¥300.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 Threat Stack

Boston, Massachusetts, United States

Threat Stack is involved in providing cloud security and compliance for infrastructure and applications, helping companies securely leverage the business benefits of the cloud with proactive risk identification and real-time threat detection across cloud workloads. The Threat Stack Cloud Security Platform delivers full-stack security observability across the cloud management console, host, container, orchestration, managed containers, and serverless layers. It provides the flexibility to consume telemetry within existing security workflows or manages it with clients through the Threat Stack Cloud SecOps Program to respond to security incidents and improve the organization’s cloud security posture over time. Threat Stack was founded in 2012 and is based in Boston, Massachusetts.

Sell $68M
SELLER

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1993 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 53 of 56
Sector (Software) 4 of 4
Type (Add-on Acquisition) 33 of 35
State (Massachusetts) 6 of 7
Country (United States) 46 of 47
Year (2021) 3 of 3
Size (of disclosed) 10 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-29 Labor First

Mount Laurel, New Jersey, United States

Labor First is a group retiree Medicare benefit manager that serves labor unions, public sector entities, and private corporations. It offers tailored benefit plans, full-service account management, and concierge retiree advocacy for plan sponsors and their retirees, that enhances benefit quality while driving material cost savings. Labor First was formed in 2005 and is based in Mount Laurel, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Prodege

El Segundo, California, United States

Prodege is an online marketing and consumer insights platform, Prodege (pro-dé-gée) leverages its global audience of reward program members to power its business solutions. Prodege was founded n 2005 and is based in El Segundo, California.

Buy -