Foley Trasimene Acquisition And Paysafe Announced A Merger

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January 28, 2022
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PaySafe and Foley Trasimene Acquisition Announced A Merger

Foley trasimene acquisition corp. Ii ("foley trasimene"), the acquisition and investment company, and paysafe group holdings limited ("paysafe"), the leading platform of integrated payments, announced the conclusion of the final agreement and the merger plan. After the transaction is closed, a new combined company will work as paysafe and plans to list on the new york stock exchange (nyse). The transaction reflects the estimated preliminary cost of paysafe about $ 9 billion.

Paysafe is a leading integrated payment platform with a bilateral consumer and trading network, the main goal of which is to enable enterprises and consumers around the world to connect freely and make transactions through payment processing, digital wallet and online cash solutions.

William p. Foli, ii, founder and chairman foley trasimene, said:

"After creating and initial listing foley trasimene, our team initiated a thorough process of finding a suitable partner in order to announce a partnership before end of the year. Thanks to the hard work of our team, we have reached it with paysafe as an ideal partner. Philip and the whole team of managers are positioning global payment platform.

We believe that we can further improve the transformation of paysafe growth due to the accelerated transformation of operating activities and mergers and acquisitions, which will be provided by our balance with a reduced level of leverage. Paysafe offers a unique value offer on large and fast-growing markets, such as games and e-commerce, which will allow the company to ensure a stable organic increase in income ".

Philip mcchee, paysafe ceo, added: "the agreement opens a new exciting chapter in the history of our company and we are very pleased with the partnership with foley trasimene, blackstone and cvc. Today, more thanner, enterprises and consumers need to be easily making transactions through digital trading. This is what paysafe makes it best to make the industry-leading payment processing solutions, digital wallets and online payments. This transaction will allow us to speed ​​up our growth opportunities in the entire business, especially in fast-growing sectors, such as igaming, where we are a preferred payment partner. ".

Paysafe currently proceses the volume of payments by almost $ 100 billion and has a significant impact on e-commerce, more thank 75% of which is online services and integrated services and also has a high-differentiated b2b and b2c global network with a powerful set of digital wallets, ecash and integrated prosessing solutions.

Source: official paysafe website

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