Vantiv’s acquisition of Mercury builds upon Vantiv’s existing distribution channels, which will increase the ability to provide an expanded set of payments solutions, such as online and omni-channel commerce, to technology partners and dealers. Mercury will expand Vantiv’s reach into the small and medium-sized business segment through Mercury’s distribution channel.
The transaction is expected to close in Q2 of 2014, subject to required US antitrust clearance and other customary closing conditions. Vantiv will fund the transaction with committed financing.
Credit Suisse acted as lead financial advisor and BofA Merrill Lynch also acted as financial advisor to Vantiv, and Wachtell, Lipton, Rosen & Katz served as its legal advisor. Morgan Stanley was the lead M&A advisor to Mercury. Mercury was also advised by J.P. Morgan, Barclays, and FT Partners. Simpson Thacher & Bartlett LLP acted as legal advisor.
Vantiv (formerly Fifth Third Processing Solutions) was founded in 1971. Vantiv’s product suite includes ATM terminal driving and monitoring, ATM and debit card transaction authorization and processing, credit issuing and processing services, national and regional gateway services, ancillary services including fraud detection, card production and other consultative services.
Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Mercury is currently majority-owned by Silver Lake. In 2013, Mercury generated net revenue of USD 237 million, growing by 17% year-over-year, and adjusted EBITDA of USD 93 million, growing by 23% year-over-year.
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