Add-on Acquisition • Internet Software and Services

Barclaycard Acquires FreedomPay

On July 16, 2020, Barclaycard acquired internet software and services company FreedomPay from TPG

Acquisition Context
  • This is Barclaycard’s 1st transaction in the Internet Software and Services sector.
  • This is Barclaycard’s 1st transaction in the United States.
  • This is Barclaycard’s 1st transaction in Pennsylvania.

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M&A Deal Summary

Date July 16, 2020
Target FreedomPay
Sector Internet Software and Services
Buyer(s) Barclaycard
Sellers(s) TPG
Deal Type Add-on Acquisition

Target Company

FreedomPay

Philadelphia, Pennsylvania, United States
FreedomPay is a provider of cloud-based payments solutions for the entire commerce ecosystem. The omnichannel payments and incentives platform provides fully integrated, processor agnostic technology that helps large and leading enterprises manage their payments infrastructure, security, analytics, and marketing offers. FreedomPay was founded in 2000 and is based in Philadelphia, Pennsylvania.
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Buyer Overview 1

Buyer

Barclaycard

Northampton, United Kingdom

Category Company
Founded 1966
Sector Financial Services
DESCRIPTION

Barclaycard, part of Barclays Bank PLC, is a global payment business that helps consumers, retailers and businesses to make and take payments flexibly, and to access short-term credit and point of sale finance.


Deal Context for Buyer #
Overall 3 of 3
Sector: Internet Software and Services 1 of 1
Type: Add-on Acquisition 3 of 3
State: Pennsylvania 1 of 1
Country: United States 1 of 1
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-08 The Logic Group Holdings

Fleet, United Kingdom

The Logic Group Holdings Ltd. is a provider of secure management of information and transactions through the delivery of trusted payment and loyalty solutions that enable increased revenue, improved profit, and reduced operating costs and risk.

Buy -

Seller Profile 1

SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


Deal Context for Seller #
Overall 217 of 278
Sector: Internet Software and Services 15 of 19
Type: Add-on Acquisition 77 of 96
State: Pennsylvania 6 of 7
Country: United States 155 of 200
Year: 2020 11 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-01 Enlivant

Chicago, Illinois, United States

Enlivant owns and/or operates more than 200 assisted living residences comprising more than 9,000 resident units across the United States. Enlivant was founded in 1981 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Adare Pharma Solutions

Lawrenceville, New Jersey, United States

Adare Pharma Solutions provides enhanced medicines, creating new possibilities for improved patient health. Adare Pharma Solutions has solved complex formulation, manufacturing, and commercialization challenges, resulting in transformational medicines that deliver value to all its stakeholders. The company has a global presence with R&D, manufacturing, and commercial operations in the Unites States, Europe, and Canada. Adare Pharma Solutions was founded in 2015 and is based in Lawrenceville, New Jersey.

Sell -