Global Payments Inc., a leading worldwide provider of payment technology services, has acquired Heartland Payment Systems, Inc., a US-based payment processing and technology provider. Financial terms of the deal were not disclosed.
The deal will expands Global Payments’ U.S. direct small and medium-sized enterprise distribution, merchant base and vertical reach. The combined strengths will provide market-leading payments solutions to nearly 2.5 million merchants globally.
It’s a smart move for both companies, Heartland Payment’s strengths in direct sales and technology-led distribution are highly complementary to Global Payments’ expertise in 60 vertical markets with 2,000 technology partners.
Based in Princeton, New Jersey, Heartland Payment Systems Inc. is a Fortune 1000 payment processing and technology provider. The company provides payment processing for more than 275, 000 business locations in the US. It processes more than 11 million transactions a day and more than $80 billion in transactions a year. In addition Heartland also offers point of sale, mobile commerce, e-commerce, marketing solutions, payroll solutions, and related business solutions and services to more than 300,000 business and educational locations nationwide.
Jeffrey S. Sloan, CEO of Global Payments, said in a statement: “This partnership with Heartland marks a major milestone for our company, significantly enhancing our direct presence in our largest market and transforming Global Payments into the leading provider of integrated payments technology solutions in the world”, and also added: “The combination of strong businesses and cultures in high growth markets will generate exceptional opportunities for our employees, customers, partners and shareholders worldwide.”
Robert O. Carr, Chairman and CEO of Heartland Payment Systems, said in a statement: “The combination of Global Payments and Heartland will be transformative for the worldwide payments industry”, and also added that: “Under Jeff’s leadership, I believe the combination of our companies will become the most valuable payments company on the planet. Heartland is excited to team with a truly international company. In the U.S., Heartland will continue to operate under its brand and under its business model of fair dealing--with the Merchant Bill of Rights and the Sales Professional Bill of Rights guiding the way to future growth and innovation.”
Headquartered in Atlanta, Georgia, Global Payments Inc. is a leading worldwide provider of payment technology services for merchants, independent sales organizations, financial institutions, government agencies and multinational corporations located throughout the United States, Canada, Europe, and the Asia-Pacific region. The company is a Fortune 1000 company that provides processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management.
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