M&A Deal Summary

Priority Payment Systems Acquires Cynergy Data

On May 28, 2014, Priority Payment Systems acquired information technology company Cynergy Data from Comvest Partners

Acquisition Highlights
  • This is Priority Payment Systems’ 1st transaction in the Information Technology sector.
  • This is Priority Payment Systems’ 1st transaction in the United States.
  • This is Priority Payment Systems’ 1st transaction in New York.

M&A Deal Summary

Date 2014-05-28
Target Cynergy Data
Sector Information Technology
Buyer(s) Priority Payment Systems
Sellers(s) Comvest Partners
Deal Type Add-on Acquisition

Target

Cynergy Data

Long Island City, New York, United States
Cynergy Data Provides merchant payment processing services and related software products.

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Buyer(S) 1

Buyer

Priority Payment Systems

Alpharetta, Georgia, United States

Category Company
Founded 2005
Sector Internet Software and Services
DESCRIPTION

Priority Payment Systems is a provider of merchants to accept credit cards, debit cards, gift cards, loyalty cards, electronic checks and check conversion.


DEAL STATS #
Overall 1 of 1
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2014 M&A 1 of 1

Seller(S) 1

SELLER

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 19 of 42
Sector: Information Technology M&A 1 of 4
Type: Add-on Acquisition M&A Deals 10 of 23
State: New York M&A 1 of 4
Country: United States M&A 19 of 42
Year: 2014 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-28 Chicago Miniature Lighting

Novi, Michigan, United States

Chicago Miniature Lighting LLC designs, produces and distributes LED miniature light source and lighting systems.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-29 Old Time Pottery

Murfreesboro, Tennessee, United States

Old Time Pottery is a retailer of decorative home products. Old Time Pottery offers home decor products, kitchen tools, dinnerware, bedding accessories, outdoor furniture and general merchandise. Old Time Pottery was founded in 1985 and is based in Murfreesboro, Tennessee.

Buy -