Advent-backed TSG and Clearent formed Xplor Technologies.

Two Advent-backed companies, Transaction Services Group, a provider of payment solutions, and Clearent, a credit card processing company, completed the merger, creating Xplor Technologies, a provider of software solutions. Financial terms were not disclosed. "This is a highly complementary combination of applications and platforms that are well positioned to empower businesses that operate in 'everyday life' verticals, which are growing rapidly because they are so important to consumers around the world. This transaction will enable us to better leverage the advantages of our global breadth with our hyper-local expertise. We will invest in and commercialize our product innovations more effectively, such as our suite of mobile apps, so that we can continue to help our clients eliminate friction and deliver better experiences to their consumers and small businesses," Floris de Kort, TSG CEO.