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FT Partners Advises PSP International on the Partial Sale of its Minority Stake in eNett to Travelport

FT Partners Advises PSP International on the Partial Sale of its Minority Stake in eNett to Travelport

Overview of Transaction

  • On August 1, 2014, PSP International announced the sale of its minority stake of eNett International to Travelport
  • eNett is a global provider of Virtual Account Numbers (VANs) which are used to make supplier payments in the travel industry
  • PSP International is a leading developer of and investor in world-class payment solutions that can be tailored to meet the needs of virtually any industry sector
  • Travelport is a leader in web-based travel e-commerce, and a provider of the most relevant and cost-efficient technologies and services available to participants of the global travel distribution chain
  • The terms of the transaction were not disclosed

Significance of Transaction

  • Combination continues to strengthen Travelport's offerings in the payment space as the Company prepares to go public
  • Transaction provides both businesses new and innovative tools to enhance product offerings
  • Achieves highly attractive outcome for both PSP International and Travelport, and values the eNett business at $450mm
  • Travelport adds to its majority stake in eNett
  • PSP entered into long term agreement with eNett to provide various banking services to the company, including becoming the primary issuer of VANs

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to PSP International in its sale process
  • Underscores FT Partners' continued success in advising a broad range of top-tier payments companies