Worldpay, a London-based electronic payment company, announced Tuesday that it has entered into an agreement to acquire SecureNet Payment Systems, based in Austin.
The financial terms of the deal were not disclosed. Sterling Partners, a private equity firm in Chicago, owned SecureNet.
SecureNet, which has 100 employees, will remain in Austin and is planning on expanding and hiring additional employees. The company provides payment processing, data analytics and inventory management for merchants. The company has partnerships and relationships with more than 17,000 merchants.
“By combining SecureNet’s innovative software integration with Worldpay’s direct acquirer distribution advantages and partnership management strengths gained by our acquisition of Century Payments, we can uniquely accelerate the delivery of an integrated, omni-channel payments environment to the market,” Tony Catalfano, CEO of Worldpay US said in a news statement. “As the US leader in modern money, this also gives us a differentiated ability to offer actionable, SKU-level data insights to our customers to help them grow their businesses.”
The deal is expected to close in December, pending regulatory approvals.
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