M&A Deal Summary

TIO Networks Acquires Softgate Systems

On July 14, 2015, TIO Networks acquired financial services company Softgate Systems from Hamilton Investment Partners for 31M USD

Acquisition Highlights
  • This is TIO Networks’ 1st transaction in the Financial Services sector.
  • This is TIO Networks’ largest (disclosed) transaction.
  • This is TIO Networks’ 3rd transaction in the United States.
  • This is TIO Networks’ 1st transaction in New Jersey.

M&A Deal Summary

Date 2015-07-14
Target Softgate Systems
Sector Financial Services
Buyer(s) TIO Networks
Sellers(s) Hamilton Investment Partners
Deal Type Add-on Acquisition
Deal Value 31M USD
Advisor(s) Financial Technology Partners - FT Partners (Financial)

Target

Softgate Systems

Fairfield, New Jersey, United States
Softgate Systems is a provider of reliable walk-in bill payment, domestic and international prepaid wireless, prepaid long distance, international top-ups and international bill payments through their PayXchange service. Softgate Systems was formed in 1993 and is based in Fairfield, New Jersey.

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Buyer(S) 1

Buyer

TIO Networks

Vancouver, British Columbia, Canada

Category Company
Founded 1997
Sector Internet Software and Services
Employees163
Revenue 83M CAD (2016)
DESCRIPTION

TIO Networks Corp. is a cloud-based multi-channel bill payment processing and receivables management provider, serving the largest telecom, wireless, cable, and utility bill issuers in North America. TIO integrates with the back office of billing systems to accept, validate, and collect payments via self-service kiosk, retail walk-in, mobile, and web solutions.


DEAL STATS #
Overall 3 of 3
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
State: New Jersey M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2015 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-05 VeriFone Commerce Solutions

San Francisco, California, United States

VeriFone Commerce Solutions, Inc. is a provider of bill payment services for US consumers who wish to pay bills online with a credit or debit card.

Buy -

Seller(S) 1

SELLER

Hamilton Investment Partners

New York, New York, United States

Investor


Category Family Office
Size Small
Type Sector Agnostic
DESCRIPTION

Hamilton Investment Partners LLC is a private investment firm that makes equity investments in partnerships that focus primarily on small and middle market buyouts and growth capital financings. Hamilton is primarily interested in the sectors of energy, manufacturing, distribution, consumer products, education, financial services and business services. The firm typically commits between $4 million to $8 million of capital per transaction, and alongside investment partners may invest $10 million to $20 million. In general, Hamilton targets companies with revenues between $5 million to $50 million. The firm prefers not to limit itself geographically; instead, Hamilton looks for opportunities where the firm has the best quality contacts: the Northeast and Mid Atlantic. The firm invests in control and minority positions. Hamilton Investment Partners LLC is based in New York, New York.


DEAL STATS #
Overall 7 of 7
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 5
State: New Jersey M&A 1 of 1
Country: United States M&A 7 of 7
Year: 2015 M&A 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-25 DoublePositive Marketing Group

Baltimore, Maryland, United States

DoublePositive Marketing Group, Inc. is an online marketing company for lead buyers and lead sellers, and direct response advertisers.

Sell -