ATLANTA -- Global Payments Inc., a leading worldwide provider of payment technology services, said that it has completed its merger with Heartland Payment Systems Inc. The combined company provides payments solutions to nearly 2.5 million merchants in 29 countries globally.
The companies announced the deal in December 2015, with a price tag of approximately $4.3 billion. In the United States, Princeton, N.J.-based Heartland will continue to operate under its brand and under its business model.
"We are delighted to announce the completion of this landmark transaction," said Jeffrey S. Sloan, CEO of Global Payments, Atlanta. "The transformative partnership with Heartland will further accelerate revenue growth, operating margin expansion and cash earnings per share growth and create the leading provider of integrated payments technology solutions worldwide."
In connection with the closing of the transaction, Robert H.B. Baldwin Jr. and Mitchell L. Hollin have joined the Global Payments board, increasing its size from eight to 10 members.
In other company news, Heartland Payment Systems recently announced a strategic partnership with Petrosoft, an end-to-end retail automation company. With this arrangement, Heartland gains access to Petrosoft’s point-of-sale, made-to-order, network and back-office solutions, while Petrosoft adds Heartland’s payroll, financing and payment processing solutions to its portfolio of partner solutions.
Pittsburgh-based Petrosoft designs, develops and markets end-to-end retail technology, enabling a seamless connection between vendors, forecourt, point-of-sale, made-to-order, back-office, fuel management, network and financial systems.
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