A leading global provider of fee generation and software answers, nowadays announced an agreement to buy MineralTree, a main provider of bills payable automation and business-to-commercial enterprise (B2B) bills solutions, from an investor institution led by means of Great Hill Partners, .406 Ventures and Eight Roads Ventures. MineralTree’s software program-as-a-provider (SAAS) offerings automate key procurement processes, consisting of invoice capture, coding and approval, and enable virtual playing cards and included payments options throughout a selection of key vertical markets to digitize payables for hundreds of customers.
In aggregate with Global Payments’ present B2B payments abilities, which includes leadership in business bills, home and international acquiring, payroll, records and analytics, access to non-card based totally rails and digital card provisioning, MineralTree’s cloud native solutions drastically increase Global Payments’ target addressable markets and provide giant incremental avenues for increase in one of the maximum attractive era markets. Global Payments also will offer specific benefits for buyers, providers and employers thru the creation of recent digital networks, deepening its aggressive moat through increasing the employer’s arsenal of exclusive marketplaces and ecosystems.
“B2B reinforces each of the legs of our strategic stool, which includes software primacy, a main ecommerce franchise and an unequalled presence in maximum of the most attractive markets worldwide,” said Jeff Sloan, Chief Executive Officer, Global Payments. “Post our merger with TSYS in 2019, we’ve got some of the elements of a a achievement B2B supplying.The addition of MineralTree’s digitized payables answers complements our B2B product suite and expands our opportunity set in considered one of the largest and maximum underpenetrated markets in software program and payments. We intend to scale our combined B2B tasks more speedy through leveraging our giant distribution channels and leading cloud centric technology globally.”
Under the terms of the purchase agreement, Global Payments will gather MineralTree for $500 million in coins. Global Payments will finance the acquisition with its current credit facility and coins available. The transaction, that is subject to customary remaining conditions and regulatory approvals, is anticipated to close in the fourth quarter of 2021.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a main bills generation corporation delivering progressive software program and services to our clients globally. Our technology, offerings and team member expertise allow us to provide a extensive variety of solutions that enable our customers to function their organizations more efficiently across a selection of channels round the arena.
Headquartered in Georgia with nearly 24,000 group members worldwide, Global Payments is a Fortune 500® enterprise and a member of the S&P 500 with worldwide attain spanning over one hundred countries during North America, Europe,
MineralTree offers current-day, cozy, clean-to-use, forestall-to-give up Accounts Payable (AP) Automation answers that reduce costs by way of way of greater than seventy five%, increase visibility and control, and mitigate fraud and chance, even as enhancing cash flow. More than 3,000 corporations and economic establishments, from the mid-market to the Fortune 500, rely upon MineralTree to digitize and optimize the whole AP Automation and Payment gadget. As a quit result, they’ll be capable of preserve control over the complete invoice-to-price workflow, enhance supplier relationships, maximize ROI, and remodel the finance characteristic from a charge center to a income middle.