Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

JetPay shares rocket higher on $184 million buyout offer by NCR Corp

% of readers think this story is Fact. Add your two cents.


Shares of JetPay Corp (NASDAQ:JTPY), a provider of end-to-end payment processing, soared Monday after announcing it was being bought out by NCR Corp (NYSE:NCR).

The transaction will be a cash tender offer of $5.05 per JetPay share. The price is for approximately $184 million and will be financed with a combination of cash on hand and existing capacity under NCR’s revolving credit facility. The offer has been approved by each company’s board of directors.

The price of $5.05 represents a 138.2% premium from the Friday close in the stock of $2.12.

Shares of JetPay more than doubled to $4.975 by midday Monday. 

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, a company statement said. It also accelerates NCR’s strategy of increasing recurring revenue growth and expanding margins by enhancing its mix of software and services.

“The 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,” said NCR President and CEO Michael Hayford.

“Enabling payments as part of our transactions is part of our long-term strategy to create integrated value for our clients,” the official said.

READ: Net Element launches payments solution for legal cannabis industry; shares double, then halt

The transaction is anticipated to close by year-end, subject to regulatory approval and other customary closing conditions.

NCR Corporation (NCR) is a leader in banking and commerce solutions, enabling 760 million transactions daily across the financial, retail, hospitality, travel, telecom and technology industries. NCR is headquartered in Atlanta, Georgia and does business in 180 countries.

JetPay is a leading provider of vertically integrated solutions for businesses including card acceptance, processing, payroll, payroll tax filing, human capital management services, and other financial transactions. It provides a single vendor solution for payment services, debit and credit card processing, ACH services, and payroll and human capital management needs for businesses throughout the United States.

The company is based in Allentown, Pennsylvania.

Reporting by Rene Pastor, contactable on [email protected]

Story by ProactiveInvestors


Source: https://www.proactiveinvestors.com/companies/news/207598/jetpay-shares-rocket-higher-on-184-million-buyout-offer-by-ncr-corp


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.