NCR completes acquisition of payments firm JetPay for $184M

Dec. 7, 2018

NCR Corp. has completed its $184 million acquisition of JetPay, an Allentown, Pennsylvania-based firm that provides point-of-sale and payments technology, including the ability to accept payments from smartphones and tablets.

NCR paid $5.05 per share for JetPay common stock, $600 per share for convertible preferred stock, according to a press release.

NCR, based in Atlanta, said in October it planned to integrate the cloud-based payments platform into its enterprise POS business for the retail and hospitality industry.

Two of JetPay's key shareholders, private equity firm Flexpoint Ford and Larry Stone, a veteran payments industry executive, previously agreed to tender their shares in support of the deal, according to the October announcement.

Financial Technology Partners and FTP Securities were the financial and strategic advisors to JetPay on the deal. Merrill Lynch advised NCR on the agreement.

Topics: Financial News, Mobile Payments, POS

Companies: NCR

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