NCR to buy payment processing co JetPay for $184 mn

NCR is set to buy Allentown, Pa.-based JetPay, a provider of payment processing and Human Capital Management solutions, for $184 million.
NCR SelfServĀ 80 ATMThe transaction will be a cash tender offer of $5.05 per JetPay share, which represents a multiple of 2.9 times 2018 consensus revenue forecast of $63.4 million. Diane Faro is the chief executive officer of JetPay.

This acquisition will enable NCR to integrate a cloud-based payments platform into its enterprise point-of-sale (POS) solutions for retail and hospitality industries. It also accelerates NCRā€™s strategy of increasing recurring revenue growth and expanding margins by enhancing its mix of software and services.

ā€œThe acquisition of JetPay is a key, strategic initiative that will enable NCR to create a full, end-to-end integrated payments offering for its enterprise-wide POS customers,ā€ said NCR CEO Michael D. Hayford.

ā€œThis acquisition allows NCR to couple stickier, feature-rich POS and payment acceptance applications with payment processing,ā€ said Rivka Gewirtz Little, research director, Worldwide Payment Strategies, IDC.

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