Global Payments buys Accelerated Payment Technologies

Buying smaller rival

Global Payments, an electronic payments processor, is buying smaller rival Accelerated Payment Technologies (APT) from private equity firm Great Hill Partners for USD413 million. Utah-based APT provides payment services to small and medium-sized merchants in industries such as medicine, pharmacy and auto. Global Payments says that in fiscal year 2013 it anticipates the deal to have a minimal impact on its revenues, as it already processes most of APT’s transactions. However, it expects the purchase to boost revenues thereafter.

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