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TransactionWatch – Week of May 23rd – May 27th

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M&A activity within the payments industry remains steady this past week with a couple new deal announcements. To kick things off, EVO Payments announced on Monday (May 23rd) their acquisition of North49 Business Solutions for an undisclosed sum. North49 is a certified Sage Development Partner that provides B2B integrated payment solutions to Sage users. This acquisition enables EVO Payments to further streamline their gateway and acquiring services to new and existing customers using Sage. This deal also builds upon EVO Payments’ strong foothold within the B2B payments environment as well as further commits their focus towards serving eCommerce and ISV markets. Separately, Paddle has announced their acquisition of ProfitWell, an ISV providing subscription metrics and retention automation solutions to over 30,000 companies. This deal was valued at over $200 million in cash and equity and marks Paddle’s first acquisition in their history. With the integration of ProfitWell, Paddle customers will now be able to utilize a plethora of new services to help them manage various areas of their business.

In other payments news, Mastercard has disclosed a pair of strategic investments this past week. The company has led a $40 million funding round in the Saudi Arabia-based HyperPay, a provider of eCommerce payment services, as well as took a minority stake in the cybersecurity firm Pincus Security.