EVO Payments Agrees to Acquire SF Systems’ Payment Gateway
ATLANTA, May 01, 2019 (GLOBE NEWSWIRE) -- EVO Payments, Inc. (NASDAQ: EVOP) (“EVO”), a leading global provider of payment technology integration and acquiring solutions, announced today an agreement to acquire the payment gateway assets of SF Systems, a Mexico City-based company specializing in integrated payments solutions for large and small merchants.
Since its founding in 2002, SF Systems has developed integrations to many of the largest point-of-sale (“POS”) systems in Mexico. EVO and SF Systems have had a commercial relationship since EVO entered the market in 2015, with SF Systems providing integrations to POS systems at many of EVO’s largest corporate customers. In conjunction with the transaction, the team of professionals that support SF Systems’ gateway assets will be joining EVO. The acquisition also provides EVO with a platform and technical expertise in Mexico to facilitate future integrations to new software partners in the market.
“We are very pleased to announce EVO’s acquisition of SF Systems’ payment gateway, which will strengthen our position in the growing tech-enabled market in Mexico,” commented Brendan Tansill, EVO’s President, North America. “With SF Systems’ integrations to software solutions servicing mid-sized merchants and large national and multi-national companies, this acquisition will be a great asset for EVO, not just in Mexico, but across all of our markets.”
Carlos Pino, SF Systems’ President, added, “We are excited to leverage EVO’s distribution and positioning in Mexico and beyond to deliver our integrated solutions to EVO’s existing and new customers. Additionally, we believe the integration of SF Systems to EVO’s Snap platform will enhance the payments experience of our current customers.”
Terms of the acquisition were not disclosed. The acquisition is expected to be completed by the end of Q3 2019, subject to closing conditions.
About EVO Payments, Inc.
EVO Payments, Inc. (NASDAQ: EVOP) is a leading payment technology and services provider. EVO offers an array of innovative, reliable, and secure payment solutions to merchants ranging from small and mid-size enterprises to multinational companies and organizations across North America and Europe. As a fully integrated merchant acquirer and payment processor in over 50 markets and 150 currencies worldwide, EVO provides competitive solutions that promote business growth, increase customer loyalty, and enhance data security in the markets it serves.
Forward Looking Statements
This release contains statements about future events and expectations that constitute forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are often identified by words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” “potential,” “near-term,” “long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecast,” “outlook,” “target,” “should,” “could,” “would,” “will” and comparable words. These forward-looking statements involve certain risks and uncertainties and other factors that could cause actual results to differ materially from those indicated in such forward-looking statements, including, but not limited to: uncertainties as to the timing of the consummation of the proposed transaction and the ability of the parties to consummate the proposed transaction; the ability of EVO to integrate SF Systems’ business; the ability of EVO to implement its plans and other expectations with respect to SF Systems’ business; and the other risks, uncertainties and important factors contained and identified (including under the heading “Risk Factors”) in EVO’s filings with the Securities and Exchange Commission, any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this release are made only as of the date hereof and, except for EVO’s ongoing obligations under applicable securities laws, EVO undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
Contact: Sarah Jane PerryInvestor Relations & Corporate Communications Manager770-709-7365