FT Partners Advises ViVOtech on Strategic Investment by First Data, NCR and Motorola
Overview of Transaction
- On May 2, 2007, ViVOtech announced the successful completion of its Series C financing round led by First Data Corp. (NYSE: FDC) in a first close
- On August 8, 2007 ViVOtech announced a second closing of the series C with other strategic investors, including NCR
- ViVOtech's current investors Alloy Ventures, Draper Fisher Jurvetson, and Nokia Growth Partners are also participating in the Series C round
- Investment strengthens FDC's role in contactless, Over the Air (OTA), and mobile phone applications. ViVOtech's solutions will allow First Data to offer new mobile payment services at the point of sale to merchants and financial institutions
- First Data's investment in ViVOtech follows their landmark $29B leveraged buyout by Kohlberg Kravis Roberts & Co.
- FT Partners served as exclusive strategic and financial advisor to ViVOtech and its Board of Directors
- FT Partners was instrumental in positioning ViVOtech and the market opportunity with potential investors and in negotiating the valuation and structure of the security
- FT Partners leveraged its extensive network of financial technology investors and executive relationships within First Data to assist in executing this round of financing