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VersaPay Wins Shareholder Nod for Great Hill Partners Buyout
Wednesday 19 February 2020

19 February 2020 - Shareholders of Canadian fintech VersaPay Corp. (TSX Venture: VPY) have approved the company's agreement to be acquired by Boston, US-based private equity firm Great Hill Partners, and an affiliate of Great Hill by way of a statutory plan of arrangement under the Canada Business Corp.s Act for CDN 126m (USD 96m), the company said.

Under the deal, each Shareholder will receive cash consideration of CDN 2.70 for each VersaPay Share held.

Great Hill is acquiring VersaPay in an cash offer that is not subject to a financing condition.

It is expected that the arrangement will be completed on or about February 21, 2020.

Great Hill will provide the capital to execute on VersaPay's growth strategies.

Great Hill Partners targets investments of USD 25m to USD 500m in high-growth companies across the consumer, digital infrastructure, financial technology, healthcare, and software sectors.

VersaPay Corp. is a provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations, and dramatically reduce DSO and costs.
Details
Date Published: 19/02/2020
Target: VersaPay Corp
Country: Canada
Deal Size: 96m (USD)
Sector: Banking/Financial Services
Type: LBO
Financing: Cash
Status: Agreed
Vendor:
Buyer: Great Hill Partners
Buyer Advisor: Blake, Cassels and Graydon , Alston and Bird , ,
Comment:


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