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TransactionWatch – Week of November 30th – December 4th

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Activity remains resilient on the M&A front this week as several new deals came about in the merchant acquiring industry. As we head closer to the new year, deals are continuing to close as payment firms finalize their 2020 objectives and move towards focusing on next year goals. First off, Nuvei announced this week their intention to acquire Base Commerce, an integrated payment solutions provider and ISO. Base Commerce processes approximately $8 billion in ACH and more than $2 billion in credit card acquiring volume annually. This transaction is expected to close by the end of the year. Separately, Lightspeed is remaining active with their new acquisition of Upserve announced this week. Upserve is backed by Vista Equity Partners and was acquired by Lightspeed for a total consideration of $430 million, representing roughly an eleven times multiple on Upserve’s annual revenue. Furthermore, Lightspeed announced the closing of its acquisition of ShopKeep, which was initially announced last month with a value at $440 million.

In other M&A news, the private equity group Greater Sum Ventures (GSV) announced they have made a majority investment in the payments technology provider Fattmerchant. This investment helps Fattmerchant accelerate its growth and further enhance its unified commerce solution.