M&A Deal Summary

LML Payment Systems Acquires Beanstream Internet Commerce

On June 30, 2007, LML Payment Systems acquired internet software and services company Beanstream Internet Commerce

Acquisition Highlights
  • This is LML Payment Systems’ 1st transaction in the Internet Software and Services sector.
  • This is LML Payment Systems’ 1st transaction in Canada.
  • This is LML Payment Systems’ 1st transaction in British Columbia.
Investment Fate
  • Beanstream Internet Commerce was divested to a consortium of strategic buyers in 2015.

M&A Deal Summary

Date 2007-06-30
Target Beanstream Internet Commerce
Sector Internet Software and Services
Buyer(s) LML Payment Systems
Deal Type Add-on Acquisition

Target

Beanstream Internet Commerce

Victoria, British Columbia, Canada
Beanstream Internet Commerce, Inc. is a provider of payment, risk management and authentication solutions to companies and institutions.

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Buyer(S) 1

Buyer

LML Payment Systems

Vancouver, British Columbia, Canada

Category Company
Founded 1974
Sector Information Technology
DESCRIPTION

LML Payment Systems Inc., through its Canadian subsidiary Beanstream Internet Commerce Inc., and US subsidiaries Beanstream Internet Commerce Corp and LML Payment Systems Corp., is a leading provider of financial payment processing solutions for e-commerce and traditional businesses. The company provides credit card processing, online debit, electronic funds transfer, automated clearinghouse payment processing and authentication services, along with routing of selected transactions to third party processors and banks for authorization and settlement.


DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: British Columbia M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2007 M&A 1 of 1