M&A Deal Summary

Searchlight Capital Partners and Rev Acquire Global Payments - Netspend Consumer Business

On August 1, 2022, private equity firm Searchlight Capital Partners and Rev acquired information technology company Global Payments - Netspend Consumer Business from Global Payments for 1.0B USD

Acquisition Highlights
  • This is Searchlight Capital Partners’ 4th and Rev’s 1st transaction in the Information Technology sector.
  • This is Searchlight Capital Partners’ 3rd and Rev’s largest (disclosed) transaction.
  • This is Searchlight Capital Partners’ 19th and Rev’s 1st transaction in the United States.
  • This is Searchlight Capital Partners’ 1st and Rev’s 1st transaction in Georgia.

M&A Deal Summary
Date 2022-08-01
Target Global Payments - Netspend Consumer Business
Sector Information Technology
Buyer(s) Searchlight Capital Partners
Rev
Sellers(s) Global Payments
Deal Type Divestiture
Deal Value 1.0B USD

Target

Global Payments - Netspend Consumer Business

Atlanta, Georgia, United States
Netspend is a prepaid and debit card space serving millions of customers nationwide, processing hundreds of billions of dollars of cardholder purchases, and established the largest retail partner network with over 130,000 locations nationwide where consumers can load their prepaid and debit card products. Netspend’s consumer products are also available online via direct-to-consumer mobile and web channels.

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Buyer(S) 2

Buyer

Searchlight Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 860M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Searchlight Capital Partners is a private investment firm founded in 2010. The Firm will invest across the capital structure, including equity and debt and will consider a variety of transaction situations, from simple to complex. Areas of focus include communications, media, information, IT services, business services, financial services, consumer services, consumer products, education, and industrial goods/services. The Firm will consider opportunities across North America and Europe. Searchlight Capital has offices in New York, London, and Toronto.

DEAL STATS #
Overall 35 of 39
Sector (Information Technology) 4 of 4
Type (Divestiture) 3 of 3
State (Georgia) 1 of 1
Country (United States) 19 of 21
Year (2022) 2 of 3
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-09 Hemisphere Media Group

Coral Gables, Florida, United States

Hemisphere Media Group is an operator of media company targeting the high growth Hispanic TV/cable networks business. Hemisphere owns and operates: Cinelatino, the leading Spanish-language movie channel available in more than 12 million homes in the U.S., Latin America and Canada; WAPA Television, Puerto Rico's leading broadcast station with the highest primetime and full day ratings in Puerto Rico; and WAPA America, the leading cable network targeting Puerto Ricans and other Caribbean Hispanics living in the U.S., with over 5 million U.S. subscribers. Hemisphere Media Group was founded in 2013 and is based in Coral Gables, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-07 Synergy Marine

Singapore, Singapore

Synergy Marine is a ship manager and provider of end-to-end maritime solutions. Synergy Marine was founded in 2006 and is based in Singapore.

Buy -
Buyer

Rev

Austin, Texas, United States
Category Company
Founded 2008
Sector Internet Software and Services
DESCRIPTION

Rev is a global multi-platform payments and loyalty technology provider that targets the unbanked and underbanked populations around the world. Rev powers an integrated branchless banking network that currently supports prepaid card payments, money transfers, mobile payments, bill payments, and remittances as well as low-cost point-of-sale devices and business solutions to mobile merchants and small and medium enterprises. Rev was founded in 2008 and is based in Austin, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Global Payments

Atlanta, Georgia, United States
Category Company
Founded 1967
Sector Financial Services
Employees27,000
Revenue 9.7B USD (2023)
DESCRIPTION
View of Global Payments' corporate headquarters in Atlanta, Georgia.
View of Global Payments' corporate headquarters in Atlanta, Georgia.

Global Payments is a worldwide provider of payment technology services. The Company's payment solutions enables merchant customers to accept card, electronic, check and digital-based payments at the point of sale. Global Payments' primary business model provides payment services directly to merchants as customers. Global Payments was founded in 1967 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 2 of 3
Sector (Information Technology) 1 of 1
Type (Divestiture) 2 of 3
State (Georgia) 1 of 1
Country (United States) 2 of 3
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 EVO

Atlanta, Georgia, United States

EVO is a payment technology and services provider that offers an array of innovative, reliable, and secure payment solutions to merchants across the globe EVO was founded in 1989 and is based in Atlanta, Georgia.

Buy $4.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-30 AdvancedMD

South Jordan, Utah, United States

AdvancedMD is a provider of cloud-based practice management, electronic health records, and revenue cycle management software solutions to the independent physician practice market. AdvancedMD was founded in 1999 and is based in South Jordan, Utah.

Sell -
Mergr

Product

Company

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