Covid Driving M&A Focus Towards Cloud IT & Outsourcing, Says Hampleton Partners’ IT Services Report
Media
Links
London, UK – 23 February 2021. The latest IT & Business Services M&A market report from Hampleton Partners, the international technology mergers and acquisitions advisor, reveals how Covid-19 has accelerated demand for cloud computing and related IT infrastructure deals.
The IT & Business Services sector saw an increase in the number of M&A transactions in the second half of 2020, with 437 deals recorded – a 15 per cent increase compared to the 381 deals seen in the first half of 2020.
Miro Parizek, Founder, Hampleton Partners
Miro Parizek, founder & principal partner, Hampleton Partners, said: “We’re seeing a definitive transformation of our use of IT in the workplace – swapping on-site technology and services in favour of remote, outsourced and easily accessible virtual solutions – which itself is now impacting M&A targets.
Published February 14, 2021, 7:00 AM
February 10, 2021 – Payoneer Inc. (“Payoneer”), the global payment and commerce-enabling platform which powers growth for millions of digital businesses worldwide, and FTAC Olympus Acquisition Corp. (NASDAQ:FTOCU) (“FTOC”), a special purpose acquisition company, today announced they have entered into a definitive agreement and plan of reorganization (the “Reorganization”). Upon closing of the reorganization, the newly created holding company will be renamed Payoneer Global Inc. and the combined company (the “Company”) will operate as Payoneer, a U.S. publicly listed entity. The Company is expected to have an implied estimated enterprise value of approximately $3.3 billion at closing, based on current assumptions.
By Reuters Staff
2 Min Read
(Reuters) - Online payment startup Payoneer Inc said on Wednesday it has agreed to go public through a merger with a blank-check firm backed by banking entrepreneur Betsy Cohen, in a deal that valued the merged entity at about $3.3 billion.
As part of the deal with FTAC Olympus Acquisition Corp, Payoneer will receive $300 million from investors including Wellington Management, Dragoneer Investment Group, Fidelity Management & Research Company and Franklin Templeton.
Founded in New York City in 2005, Payoneer provides businesses and professionals with a cross-border payments platform and has over four million customers. Its major investors include Susquehanna Growth Equity, Wellington Management Company and Chinese private equity firm CBC Capital.
Payments startup PPRO has raised over US$180 million in new investment, elevating it to unicorn status with a valuation of more than US$1 billion. Its investors include Eurazeo Growth, Sprints Capital, and Wellington Management.
(1)
New investment from Eurazeo Growth, Sprints Capital and Wellington Management after another year of hypergrowth for PPRO PPRO, the global provider of local payments infrastructure, today announced over US $180 million in new investment. Investors include Eurazeo Growth, Sprints Capital, and Wellington Management. This news comes just six months after the company raised US $50 million from Sprints Capital as well as Citi Ventures and HPE Growth. PPRO s valuation is now over US $1 billion.
PPRO has established itself as the most trusted infrastructure provider in the cross-border payments space, powering international growth for payment service providers and platforms such as Citi, Elavon, Mastercard Payment Gateway Services, Mollie, PayPal, and Worldpay. PPRO s local payments platform and expert services help its customers get the industry s best conversion rates in markets around the world by allowing online shoppers to pay with their preferred payment method.