ATLANTA–(BUSINESS WIRE)–NXGEN International and Payscape, two premier payments companies recently backed by Parthenon Capital, announced their latest acquisition, BluePay Canada, formerly known as Caledon Computer Systems, Inc. Together, the combined companies of NXGEN, Payscape and BluePay Canada form a new financial technology company that operates in 46 countries and processes more $13 billion in payment volume annually for over 25,000 merchants.
BluePay Canada adds a proprietary, full-stack payments processing platform used across North America by a wide range of enterprise customers and leading software providers. The platform specializes in providing payment facilitation services to leading global independent software vendors (ISVs), enabling them to provide world class accounts receivable and accounts payable functionality to end-user clients. With direct connectivity to the four major card networks of Visa, MasterCard, American Express and Discover, BluePay Canada supports volume in verticals such as business-to-business, property management, education, leasing and financing, subscriptions, recurring billing and other emerging payment markets. Product highlights include payment facilitator sponsorship, data tokenization, middle and enterprise market merchant acquiring, Level 2 and 3 data interchange management, pre-authorized debit processing and electronic funds transfer settlement (Canadian ACH), user-pay surcharging and white-label solutions.
Marcus Dagenais, head of BluePay Canada who becomes president of the Canadian division of the company, remarked, “For myself and our team, this feels like a homecoming. We have closely watched the success of both Payscape and NXGEN over the years, so we are both excited and humbled to be included in this next chapter of growth with support from Parthenon Capital.”
“This merger represents the next logical step in the company’s growth and expansion,” commented Zach Sadek, a partner with Parthenon Capital. “With this acquisition, we demonstrate our dedication and commitment to the international ISV space. We are quickly becoming North America’s most powerful payment facilitator platform,” said CEO Adam Bloomston.
“While significantly strengthening our Canadian presence, adding BluePay Canada’s ISV capabilities and relationships to the combined Payscape-NXGEN offering will enable software developers, resellers and integrators to deploy their solutions in 46 countries, and will reinforce our position as a unique player in the fintech world,” expressed Giuseppe Caltabiano, president of the combined company’s international business. “We are the leader in the space, able to provide both card-present and card-not-present solutions on a large geographical footprint.”
Golding & Company served as financial advisor to the seller in this transaction.
About NXGEN
NXGEN International is the largest global merchant service provider (MSP) serving over 13,000 merchants in multiple countries. NXGEN International has recorded double digit growth year after year since opening its doors in 2002, and has grown to become the largest MSP and independent sales organization (ISO) in processing volume. NXGEN International’s global footprint covers 30 countries and is poised to quickly expand. Most recently, NXGEN International launched its World Access program, the first unified sales program enabling other MSPs, ISOs and independent sales agents to sell globally in 75 countries and be paid in their home country. NXGEN was honored with the 2018 SBA Montana Small Business Exporter of the Year award, was a 2017 recipient of the prestigious Elavon Arch award and was the Electronic Transactions Association’s ISO of the Year in 2016. For more information, please visit nxgen.com.
About Payscape
Founded in 2004, Payscape is a premier financial technology company providing payment solutions to a network of more than 11,000 small and medium-sized merchants across retail, professional services, organizations, hospitality and other attractive end-markets. They are intent on disrupting the commoditized payment landscape with cutting-edge products and services, universal API integration, best-in-class customer service and strategic referral and technology partnerships. Payscape supports over $2.4 billion of annual volume through processing services, as well as proprietary software for online invoicing, event registration and virtual shopping carts. For more information, please visit payscape.com.
About Parthenon Capital
Parthenon Capital is a leading mid-market private equity firm with offices in Boston, San Francisco and Austin. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in financial and insurance services, healthcare and business services, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how. For more information, please visit parthenoncapitalpartners.com.
