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Sunday, 12 October 2014 21:22

Global Payments finalises Ezidebit purchase Featured


Merchant payment services vendor Global Payments has completed its acquisition of Australia integrated payments company Ezidebit.

Under the deal, the New York listed Global Payments paid $305 million to buy the Queensland-based Ezi Holdings,  which has serviced the Australian and New Zealand market as Ezidebit since its establishment in 1998.

The purchase has been funded by Global Payments through a combination of cash on hand and borrowings on the company’s revolving credit facility.

Similar to Global Payments OpenEdge division, Ezidebit markets its products through a network of integrated software vendors and direct channels to numerous vertical markets.

Earlier this month, Global Payments released its first quarter 2015 results, reporting revenue growth of 12% to $704.9 million, compared to $629.7 million in the first quarter of the 2014 fiscal year.

Commenting on the financial results, Global Payments Executive Vice President and Chief Financial Officer, Cameron Bready, said that as a result of the strong first quarter performance and the “anticipated closing of the Ezidebit transaction during our fiscal second quarter, we are raising our annual fiscal 2015 revenue outlook to $2.74 billion to $2.79 billion, or 7% to 9% growth.”

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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