M&A Deal Summary

Goldfinch Partners Acquires Convera

On August 4, 2021, private equity firm Goldfinch Partners acquired financial services company Convera from Western Union for 910M USD

Acquisition Highlights
  • This is Goldfinch Partners’ 1st transaction in the Financial Services sector.
  • This is Goldfinch Partners’ largest (disclosed) transaction.
  • This is Goldfinch Partners’ 2nd transaction in the United States.
  • This is Goldfinch Partners’ 1st transaction in Washington.

M&A Deal Summary

Date 2021-08-04
Target Convera
Sector Financial Services
Buyer(s) Goldfinch Partners
Sellers(s) Western Union
Deal Type Divestiture
Deal Value 910M USD

Target

Convera

Seattle, Washington, United States
website
Convera is a non-bank provider of cross-border business payment and foreign exchange solutions processing over $110 billion in total payments volume in 2020. With an existing customer base of more than 30,000 small and medium-sized businesses, educational institutions, financial institutions, law firms, and NGOs spanning over 40 countries and territories and 140 currencies, the business possesses a truly global footprint and serves some of the fastest-growing segments of the B2B cross-border payments markets. Convera is based in Seattle, Washington.

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Buyer(S) 1

DESCRIPTION

Goldfinch Partners is a private equity firm focused on acquiring and investing in software and technology companies. The Firm supports a variety of transaction situations including buyouts, corporate carve-outs, recapitalizations, and growth equity financings. Sectors of interest include consumer and retail, technology and media, financial services, and business services. Goldfinch Partners was established in 2018 and is based in Seattle, Washington.


DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-28 Vesta

Lake Oswego, Oregon, United States

Vesta is a provider of guaranteed fraud protection and e-commerce payment solutions to help online merchants, major telcos, payment processors and acquirers optimize revenue by eliminating the fear of fraud. The company pioneered fully guaranteed card-not-present (CNP) payment transactions for the telecommunications industry by using its cutting-edge data science and machine learning capabilities to thwart fraud and ensure that more valid transactions are approved. Its flexible and scalable solutions enable its customers to eliminate the fear of fraud and increase revenue by delivering secure, frictionless transactions that maximize acceptance and improve customer experience, all backed by a zero-fraud-liability guarantee. Vesta was founded in 1995 and is based in Lake Oswego, Oregon.

Buy -

Seller(S) 1

SELLER

Western Union

Denver, Colorado, United States

website


Category Company
Founded 1851
Sector Financial Services
Employees11,000
Revenue 4.5B USD (2022)
DESCRIPTION
Entrance to Western Union's corporate headquarters in Englewood, Colorado.
Entrance to Western Union's corporate headquarters in Englewood, Colorado.

Western Union is a financial services company that provides people and businesses with fast, reliable and convenient ways to send money and make payments around the world. Western Union's consumer-to-consumer money transfer service enables people to send money around the world, usually within minutes. Western Union also provides consumers with flexible and convenient options for making one-time or recurring payments in our consumer-to-business segment. This segment consists of United States bill payments, Pago Fácil (bill payments in Argentina), and international bill payments. Western Union's business solutions segment facilitates payment and foreign exchange solutions, primarily cross-border, cross-currency transactions, for small and medium size enterprises and other organizations and individuals. Western Union was founded in 1851 and is based in Denver, Colorado.


DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 2 of 2
State (Washington) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-09 Speedpay

United States

Speedpay, Inc. provides electronic bill presentment and payment solutions to a variety of business sectors in the U.S., including utilities, auto finance, mortgage, consumer finance, insurance, telecommunications, and government finance.

Sell $750M