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FT Partners Advises JetPay on its Sale to NCR for $184,000,000

Overview of Transaction

  • On October 22, 2018, JetPay (NASDAQ: JTPY) announced it has entered into a definitive agreement to be acquired by NCR (NYSE: NCR) for $5.05 per share in cash for total consideration of $184 million
  • The purchase price represents a 182% premium to the average 90 calendar day share price of $1.79 and a 146% premium to the closing share price of $2.05 on October 19, 2018
  • Headquartered in Allentown, PA, JetPay is a leading provider of payment processing services, human capital management, payroll and payroll tax services
  • JetPay provides card not present and point of sale solutions through its own proprietary front-to-back end platform, as well as a full suite of human capital management solutions
  • NCR is a global leader in developing transformational transaction technologies including online banking, POS systems, mobile payments and omni channel solutions

Significance of Transaction

  • The transaction will allow NCR to leverage JetPay’s current install base and deliver a turnkey, highly integrated POS / Payments bundle to NCR end-markets with an initial focus on the SMB market
  • Additionally, the acquisition will expand NCR’s solutions platform, increase its source of recurring revenue growth and expand its margins by bolstering its mix of software and services

FT Partners' Role

  • FT Partners served as the exclusive strategic and financial advisor to the Special Committee of JetPay’s Board of Directors
  • This transaction underscores FT Partners' successful track record generating highly favorable outcomes for leading Payment Processing companies