PRESS RELEASE
Mercury Payment Systems Attracts Strategic Growth Investment from Silver Lake
Durango, CO and New York, NY – April 14, 2010 – Mercury Payment Systems, one of the fastest-growing payment processing companies in North America, and Silver Lake, the world’s largest technology investment firm, today jointly announced that Silver Lake will make a strategic growth investment in Mercury and will acquire approximately 60% of the Colorado-based business.
Mercury’s strategy of partnering with point-of-sale (POS) developers and resellers to provide merchants with integrated payment solutions has driven significant growth across a range of sectors, including food and beverage, hospitality, retail, grocery, pharmacy and healthcare. Mercury now ranks among the top five largest non-bank merchant acquirers in the U.S. by number of transactions.
“Silver Lake’s investment is a strong vote of confidence and will help us achieve continued growth and success,” said Matt Taylor, the company’s Chief Executive Officer, who will continue in his current role. “Silver Lake’s technology investing expertise and industry relationships will support our strategy of deploying leading solutions for our POS developer and reseller partners, as well as the merchants we serve throughout the United States and Canada.”
Mercury founders, Marc Katz and Jeffrey Katz, and existing investor Larry Stone, will collectively retain approximately 40% ownership in the company. They also will continue to serve on its board of directors and help guide Mercury’s strategy.
Mike Bingle, Managing Director of Silver Lake, said Mercury was poised for continued success. “In less than a decade, Mercury has evolved from a start-up to the clear leader in integrated payments,” Bingle observed. “We look forward to working with CEO Matt Taylor, the company’s founders and its talented employees as Mercury continues its impressive growth trajectory.”
“Mercury’s momentum has been driven by both technology and business model innovation,” added Silver Lake Managing Director Joe Osnoss. “While many merchant acquirers rely only on direct sales forces, Mercury has created a unique value-added network of POS developers, resellers and merchants who all benefit from the company’s solutions. Silver Lake’s investment is designed to reinforce and extend this competitive differentiation.”
About Mercury Payment Systems
Mercury Payment Systems is an integrated transaction processing company created to enhance point-of-sale systems by offering credit, debit, check, gift card and loyalty processing. Mercury’s integrated Internet protocol (IP) or dial-up processing solutions are fast, reliable and affordable. Resellers can leverage the reliability and enhanced efficiency of integrated payment processing to increase productivity and customer satisfaction. Mercury Payment Systems helps resellers increase their opportunities with reseller support and superior technology. For more information call 800-846-4472 or go to www.MercuryPay.com.
About Silver Lake
Silver Lake is the leader in private investments in technology, technology enabled, and related growth industries. Silver Lake invests with the strategic and operational insights of an experienced industry participant. The firm has over 90 investment professionals located in New York, Menlo Park, San Francisco, London, Hong Kong and Tokyo and manages over $14 billion across large cap and middle market private investment strategies as well as a credit investment strategy. Its portfolio includes or has included technology industry leaders such as Avago, Avaya, Business Objects, CDW, Flextronics, Gartner, Gerson Lehrman, Instinet, Intelsat, NASDAQ, NXP, Sabre / Travelocity, Seagate Technology, Skype, SunGard Data Systems, Thomson and UnityMedia. For more information, please visit www.silverlake.com.