Pivotal Payments announces strategic investment to pursue ambitious acquisition plans
Transaction values Pivotal at USD $430 million and allows company to fuel its transformational growth
PLANO, TX, September 28, 2017 – Pivotal Payments, a leading provider of technology-driven global payment processing solutions, announced it has entered into a strategic investment agreement with private equity firm Novacap and Canadian pension fund manager Caisse de depot et placement du Quebec (CDPQ), two world-class institutional investors with extensive expertise in international business expansions. The new shareholders will enable Pivotal to pursue more markets, while further developing its payment technologies.
With a strong history of growth since 2003, Pivotal services more than 50,000 merchants, accounting for over USD $14 billion in annual transaction volume. The company offers direct acquiring in North America for point-of-sale businesses, integrated solutions, plus a robust global eCommerce platform. The investment provides Pivotal an opportunity to significantly increase its sources of revenue and fintech capabilities through the acquisition of traditional payment organizations and payment-enabled software companies.
"This investment marks an important step for Pivotal. We pursued an aggressive growth plan over the last few years, and we have chosen the best partners to support us going forward," said Philip Fayer, Pivotal's founding President and Chief Executive Officer.
Pivotal recently announced another phase of its growth with the move of its Arizona office into a new, 26,000-square-foot office in Scottsdale. The SkySong 2 Center location promotes both functionality and employee engagement, to enhance the services offered to merchant clients, sales partners and technology partners.
About Pivotal Payments
Pivotal Payments is a leading provider of technology-driven, end-to-end payment processing solutions. We service the global eCommerce, SMB acquiring and integrated payments (ISV) markets, enabling a wider range of payment acceptance solutions under one innovative platform. Backed by experienced people, cutting edge technology and effective processes, we strive to create meaningful growth for our clients, partners and employees across multiple geographies and industries. As a full-fledged merchant processor for all major card brands, plus a principal member of Interac® and UnionPay International, we provide direct connectivity with the world's largest payment networks to power your success. Learn more at http://www.pivotalpayments.com or http://www.linkedin.com/company/pivotal-payments.
For more information:
514-313-1190 ext. 8001