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TSG, Clearent merge to form Xplor
The new company will serve five verticals spanning everyday life activities, including landscaping services.
Clearent, a full-service, integrated payment solutions provider based in the U.S., and Transaction Services Group (TSG), a global provider of business management software and integrated payments for the subscription economy, announced that they have entered into a definitive merger agreement.
TSG and Clearent, both portfolio companies of Advent International, a private equity firm, are combining to create a global platform designed to integrate software, payments and commerce-enabling solutions for specific vertical markets.
The resulting company will be relaunched as Xplor Technologies serving over 82,000 businesses that processed over $27 billion in payments, operating across 158 countries in 2020. The group's offering combines enterprise software solutions for businesses in five industry verticals - Education, Health and Fitness, Boutique Wellness, Field Services and Personal Services - and a global, cloud-based processing platform that allows clients to securely process payments for their services.

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