Paya and FinTech III Announce Merger Agreement - Seite 2

Betsy Z. Cohen, Chairman of the Board of Directors of FinTech III, said, "Integrating payment solutions with software is the fastest growing segment of the payments industry, and Paya is perfectly positioned as the partner of choice for sophisticated software providers and middle market business clients across multiple attractive verticals. Jeff and his team have created innovative solutions that anticipate the needs of the market which provides a clear, strategic vision for accelerating growth at Paya.”

Collin Roche, Managing Director at GTCR commented, “This transaction is another great example of our Leaders Strategy approach and its ability to transform businesses in industries we know well like payments.” Aaron Cohen, Managing Director at GTCR added, “Jeff and the leadership team have made the investments in technology and talent to build a differentiated integrated payments platform of scale in attractive end markets, and we are excited to continue supporting Paya in this next chapter of growth.”

Paya Highlights:

• Leading independent payments platform in growing market
  • Largest independent pure-play provider in the rapidly growing integrated payments space
  • Among highest proportion of card-not-present (CNP) transactions in the industry, comprising 85% of card volume. Scale provider generating $30 billion of electronic payments volume annually
• Deep expertise in attractive end verticals
  • Focus on markets defined by strong secular tailwinds and low penetration of electronic payments such as B2B, Healthcare, Government & Utilities, and Non-Profit markets
  • Vertically tailored product set built on the best-in-class Paya Connect platform
• Differentiated distribution model focused on end-to-end payment solutions integrated into software
  • Attractive partnership model defined by high degree of scalability
  • Strong partnerships with extensive network of independent software providers in core verticals
• Multiple vectors for continued growth
  • Embedded white-space penetration opportunities within installed base of existing partnerships
  • Modular technology infrastructure and broad solution suite built to drive new partnerships in core verticals and expand into attractive adjacencies
  • Proven platform for accretive M&A
• Attractive financial profile
  • Industry-leading KPIs, including a $200+ average ticket
  • Track-record of historical growth, strong operating leverage and excellent cash flow generation
• Seasoned and experienced management team
  • Combined 100+ years in payments industry with organizations including JPMorgan Chase, PayPal, First Data, and Vantiv

Transaction Summary