M&A Deal Summary

FinTech Acquisition Acquires CardConnect

On March 7, 2016, FinTech Acquisition acquired information technology company CardConnect from FTV Capital for 350M USD

Acquisition Highlights
  • This is FinTech Acquisition’s 1st transaction in the Information Technology sector.
  • This is FinTech Acquisition’s largest (disclosed) transaction.
  • This is FinTech Acquisition’s 1st transaction in the United States.
  • This is FinTech Acquisition’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2016-03-07
Target CardConnect
Sector Information Technology
Buyer(s) FinTech Acquisition
Sellers(s) FTV Capital
Deal Type Add-on Acquisition
Deal Value 350M USD
Advisor(s) Financial Technology Partners
FTP Securities LLC (FT Partners) (Financial)
Kirkland & Ellis (Legal)

Target

CardConnect

King of Prussia, Pennsylvania, United States
CardConnect LLC is a provider of merchants payment processing solutions to accept credit cards, debit cards, gift cards, and checks at the point-of-sale.

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Buyer(S) 1

Buyer

FinTech Acquisition

Philadelphia, Pennsylvania, United States
Category Company
Founded 2019
Sector Financial Services
DESCRIPTION

FinTech Acquisition is a provider of financial services. FinTech Acquisition was founded in 2018 and is based in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.

DEAL STATS #
Overall 34 of 61
Sector (Information Technology) 9 of 14
Type (Add-on Acquisition) 24 of 39
State (Pennsylvania) 1 of 1
Country (United States) 32 of 54
Year (2016) 1 of 3
Size (of disclosed) 4 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-17 VPay

Plano, Texas, United States

VPay offers a turn-key platform that distributes, administers, and processes virtual and plastic cards, checks, and ACH payments via their end-to-end issuing and processing capabilities. Offering the insurance industry’s only total payment solution, VPay equips insurers with configurable, next-generation digital solutions that streamline every aspect of payment processes. VPay was founded in 2002 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-22 Edgewater Markets

New York, New York, United States

Edgewater Markets is a technology-driven trading platform and trusted provider of foreign exchange services with over 300+ global institutional clients. Edgewater world footprint provides access to FX markets globally, and entrance into pools of local liquidity that defines the 'EDGE' in the market place. Edgewater Markets was founded in 2013 and is based in New York City.

Buy -
Mergr

Product

Company

Legal