Being acquired by Francisco partner
Francisco Partners is purchasing a majority stake in payment software developer Paymetric. Francisco Partners, a private equity firm, is not revealing the financial details of the acquisition, other than that the transaction was processed without an outside financial advisor.
Paymetric develops an integrated, electronic payments management system, which it claims helps customers by lessening the time taken over compliance procedures. The Georgia-based firm was founded in 1998 and says it is compatible with every type of electronic system that accepts payment.
“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.”
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