Francisco Partners To Make Majority Investment In Paymetric
Press Releases — Aug 28, 2013
Private Buy Out
New Financial Partner Will Help the Enterprise Payments and Security Leader Accelerate Growth and Innovation
Paymetric, Inc., the leading provider of SaaS-based enterprise security and integrated payment acceptance solutions, today announced a majority investment from Francisco Partners, a global technology-focused private equity firm. The investment will provide Paymetric with a new financial partner to help it capitalize on its current momentum and continue to drive product innovation and global expansion.
Paymetric has grown substantially in recent years as enterprise-level merchants increasingly demand solutions to seamlessly integrate and secure complex payments and other mission-critical data and processes. The new investment from Francisco Partners will allow Paymetric to continue to launch new modules and extend capabilities to meet customers’ expanding needs.
“With Francisco Partners we have found an investment partner that shares our vision for secure and seamless enterprise payments and sees the opportunity in front of us,” commented Asif Ramji, president and CEO of Paymetric. “This partnership will provide the capital and support we need to continue to deliver value to our increasingly diverse global customer base.”
Francisco Partners identified Paymetric as an early mover in the market for SaaS-delivered security and integrated payments solutions for large enterprises.
Peter Christodoulo, a Principal of Francisco Partners, commented, “Paymetric’s SaaS-based security and integrated payments solutions are proven to drive substantial value for enterprises. We are excited to partner with Paymetric as it continues to innovate and expand its product and service capabilities.”
Raymond James & Associates acted as financial advisor and Morris, Manning & Martin, LLP acted as legal advisor to Paymetric. Kirkland & Ellis, LLP acted as legal advisor to Francisco Partners. The transaction is subject to customary closing conditions and is expected to close within 30 days. Financial terms of the transaction were not disclosed.
Paymetric’s solutions support virtually every type of electronic payment in any enterprise system where payment is accepted. Paymetric is a recognized industry leader and is a three-time award-winning SAP partner. The company has also been awarded the prestigious Red Herring Top 100 for North America and received numerous awards from Info Security Products for global excellence.