Analysis: Bruised by a valuation freefall, payments companies brace for M&A

Italy’s Nexi draws takeover interest -sources Billtrust owner, Paya reviews strategic options – sources Valuation gap is narrowing amid market turmoil LONDON/NEW YORK, Aug 12 (Reuters) – Battered by a near 50% plunge in its shares over the last 12 months, Nexi (NEXII.MI), Europe’s biggest payments processor, has not gone unnoticed. Earlier this year, the … Read more

Berkshire CEO-designate Abel sells stake in energy company he led for $870 million

Gregory Abel, the CEO of Berkshire Hathaway Energy and who is designated to succeed Warren Buffett as Berkshire CEO, walks through the crowd at the first in-person annual meeting since 2019 of Berkshire Hathaway Inc in Omaha, Nebraska, US April 29, 2022. REUTERS/Scott Morgan Register now for FREE unlimited access to Register Aug 6 … Read more

India’s Pine Labs eyes $4-5 billion in monthly payments volume from new business

MUMBAI, Aug 5 (Reuters) – India’s Pine Labs is targeting $4 billion to $5 billion in monthly transactions within two years for its new online payments business, its chief executive told Reuters. At that point, online payments should contribute 20% of revenue, Pine Labs chief executive Amrish Rau said, disclosing the company’s targets for the … Read more

Thomson Reuters raises sales outlook on core business strength in slowing economy

The Thomson Reuters logo is seen on the company building in Times Square, New York, US, January 30, 2018. REUTERS/Andrew Kelly/File Photo Register now for FREE unlimited access to Register NEW YORK, Aug 4 (Reuters) – Thomson Reuters Corp (TRI.TO) reported higher second-quarter operating profit on Thursday and raised its full-year revenue forecast, citing … Read more

Global Payments to acquire EVO in $4 billion deal to boost B2B segment

REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Register Aug 1 (Reuters) – Global Payments Inc (GPN.N) said on Monday it would buy smaller peer EVO Payments Inc (EVOP.O) for nearly $4 billion including debt, as the fintech firm seeks to expand its footprint in the business- to-business (B2B) space. Companies such as … Read more

EXCLUSIVE Business payments firm Billtrust up for sale -sources

NEW YORK, July 27 (Reuters) – BTRS Holdings Inc (BTRS.O), the owner of business payments vendor Billtrust, is exploring options that include a potential sale, according to people familiar with the matter. The Lawrenceville, New Jersey-based company is working with an investment bank as it considers its alternatives, the sources said. A sale to a … Read more

Voucher firm Edenred upbeat as companies boost staff benefits

Sees 2022 EBITDA up an underlying 14-21% Previous guidance was for an increase of over 10% Shares up more than 3% July 26 (Reuters) – French voucher provider Edenred (EDEN.PA) raised its full-year core profit forecast on Tuesday as staff shortages and rising inflation push employers to spend more on benefits for workers. The company, … Read more

Britain kicks off post-Brexit ‘transformation’ of finance

LONDON, July 19 (Reuters) – Regulators will have to promote the global competitiveness of Britain’s financial sector or could face mandatory reviews of their rules, UK finance minister Nadhim Zahawi said on Tuesday. He confirmed that a long-awaited financial services and markets bill will be introduced before parliament on Wednesday to “capitalize on the benefits … Read more

SGS sticks to outlook as H1 sales rise in “challenging” market

ZURICH, July 19 (Reuters) – Testing and inspection company SGS (SGSN.S) stuck to its 2022 outlook on Tuesday while reporting higher first-half sales and a modest increase in net profit. It still saw mid-single digit organic growth this year with an improved adjusted operating income, it said in a statement. It said it would accelerate … Read more

Zip-Sezzle BNPL deal falls through as rising rates hit consumer finance firms

Zip logo is seen on a smartphone in front of displayed same logo in this illustration taken January 25, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Register July 12 (Reuters)-Australian buy-now-pay-later (BNPL) firm Zip Co Ltd dropped its plan to buyout US rival Sezzle Inc, the companies said on Tuesday, … Read more