Announced
Completed
Financials
Tags
Completed
Friendly
prepaid cards
Acquisition
United States
Private Equity
Private
Single Bidder
Payments / Commerce
Majority
corporate payments
Merger
Domestic
Synopsis
North Lane Technologies, a payments technology company, completed the merger with daVinci Payments, a prepaid bankcard solutions provider. The combined entity operates under the umbrella of Syncapay, a holding company for payment technology and solutions companies, which will receive a new majority equity investment from funds advised by Centerbridge Partners. Financial terms were not disclosed. "Cutting-edge payment experiences across expanding markets present major growth opportunities. We will continue to advance payments across the most relevant form factors and constantly ensure that people are paid when, where and how they want to be paid. The future of payments is digital, global and seamless, and we look forward to realizing the opportunities that the expanding market provides," David Josephs, daVinci CEO.
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