Paysafe Finishes Business Integration with Foley Trasimene Acquisition Corp. II

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Transaction and proceed to resource avenues likely to speed increases, promote margins, and you can always generate on Paysafe’s M&A technique

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Combined team often perform since Paysafe Limited and will trade into the the newest York Stock exchange beneath the Ticker PSFE

London area, United kingdom and you may Las vegas, NV – – Paysafe Category Holdings Limited, a number one certified payments program, and Foley Trasimene Buy Corp. II (NYSE: BFT), (BFT WS) (“Foley Trasimene”), an alternative mission buy organization, now established that they have finished their prior to now established merger. The latest merger try approved from the a different fulfilling regarding stockholders of Foley Trasimene into . The brand new mutual company today operates just like the Paysafe Minimal (« Paysafe ») and you can Paysafe’s popular shares and you may deserves begins trade for the Ny Stock market (NYSE) within the ticker icons “PSFE” and you may “PSFE.WS” respectively, undertaking the next day, .

Paysafe was the leading official costs program, having a two-sided individual and you may vendor network, whoever center purpose is to try to enable businesses and you can users inside the world to connect and you may interact effortlessly as a consequence of payment handling; digital wallets for instance the Skrill and you may Neteller brands; an internet-based bucks options together with paysafecard and Paysafecash.

William P. Foley, II, Maker and you will Chairman of Foley Trasimene tend to serve as Chairman out of Paysafe’s recently formed Board off Directors. Paysafe’s management group headed right up by Philip McHugh, Ceo, will continue to direct the new mutual organization. ?

William P. Foley, II, Founder and you will President off Foley Trasimene and you can Chairman off Paysafe, mentioned, “We have been pleased to over this provider integration with Paysafe and you can I’m in person happy to keep to utilize Philip, Blackstone, CVC as well as the entire panel as we always execute against the policy for accelerated and successful development. Paysafe gets the right possessions, group and you can approach positioned so you’re able to benefit from a tremendous opportunity for very long-term really worth creation on costs world, especially in iGaming that’s extremely start to start across the us.”

Philip McHugh, President off Paysafe, mentioned, “The newest closing associated with the deal and you may the listing towards The fresh new York Stock exchange is a big milestone getting Paysafe and obtaining until now today try testament towards work and you can persistence of your class worldwide. I would and additionally want to give thanks to Bill plus the Foley Trasimene cluster because of their backing and you will faith within options, and undoubtedly Blackstone and CVC because of their went on financing and you may support. Our company is happy becoming starting the next level of your development journey due to the fact a general public team.”

Eli Nagler, an elderly Controlling Movie director in the Blackstone, said: “Now is a huge milestone to own Paysafe and you can a great testament to help you the excellent works of their industry-classification management people more than decade. We believe Paysafe possess a long runway for additional progress and you can enjoy remaining area of the team and you can seeing their went on triumph because the a public company.”

Peter Rutland, a regulating Spouse at CVC, told you, “We are pleased having Paysafe because they begin the 2nd section because the a general public team. Because of the combining Paysafe’s top selection from inside the higher-growth, specialized , today formulated having Bill Foley’s reputation enhancing all-natural and you may inorganic gains, the firm is amazingly really-arranged to keep an effective gains trajectory and construct worthy of to have shareholders as well as most other stakeholders.”

Borrowing from the bank Suisse acted while the lead financial coach and capital locations mentor in order to Paysafe. Morgan Stanley plus acted since monetary mentor to Paysafe. BofA Bonds, J.P. Morgan Securities LLC, Barclays, Wolfe Money Areas and you can Consultative, BMO Investment Segments and you can Evercore in addition to acted due to the fact resource places advisers. Simpson Thacher & Bartlett LLP acted as the legal counsel so you’re able to Paysafe. Proton Couples acted as strategic mentor so you’re able to Paysafe.