Payment venture raises equity, debt for $37M buy
Posted on November 18, 2009 at 8:21 am
Pace Payment Systems, an ambitious Burton Hills-based payment processing company, has raised almost $19 million in debt and equity, money that will help it merge with a California company. Pace is led by former Prime Office Products CEO Paul Christians and backed by Claritas Capital. Check out its site here.
SEE ALSO: Pace’s SEC filing detailing its offering
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Vegas saw it first
Posted on October 22, 2009 at 9:08 amElectronic payment solutions provider Comdata launched a point-of-sale product suite at the National Association of Convenience Stores event in Las Vegas on Wednesday. Comdata Smart Solutions is being pitched for convenience stores, truck stops and unattended fuel locations.
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Comdata launches jet business application
Posted on October 21, 2009 at 9:28 am
Brentwood-based payment processor Comdata has teamed with Mercury Air Group to market software that tracks and automates fuel delivery and payments from companies in the fractional jet industry.
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iPayment getting new digs out West
Posted on September 14, 2009 at 8:28 amThe Los Angeles-area offices of Nashville-based payment processor iPayment will soon move to space in Westlake Village, a little west from their current location. The company has signed a lease for more than 30,000 square feet.
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Emdeon loses Cigna exclusivity
Posted on August 21, 2009 at 7:45 amOne of the country’s top insurers says it is opening up its electronic claims network to firms other than Nashville-based Emdeon — the first being a unit of UnitedHealth. The move could knock some of the wind out of the sails of newly public Emdeon shares (Ticker: EM), which are up almost 20 percent from offering price.
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Comdata promotes 21-year sales veteran
Posted on June 29, 2009 at 8:06 amGreg Koren has been named senior VP of sales for enterprise solutions at Comdata and will oversee, among other things, the company’s new health care products.
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Emdeon Q1 up 131%
Posted on June 16, 2009 at 11:05 pm
The Nashville-based health care payment processor is proving its recession-resistant business model as it prepares to go public with the ticker symbol EM.
Filing an amended S-1 with first-quarter numbers, the company says revenues rose 4.5 percent to $220 million, operating margins grew from 10.8 percent to more than 13 percent and net income that more than doubled to $3.3 million. Both main business segments posted steady growth rates and, helped by 150 job cuts since last June, management has kept spending in check.
One sidenote: Barclays Capital and Jefferies have Emdeon’s underwriting team, replacing Merrill Lynch and Banc of America Securities.
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Payment processor hires CIO
Posted on May 12, 2009 at 9:10 amCool Springs-based Solveras Payment Systems has recruited a former Visa and Federal Reserve IT executive to head up its tech operations.
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Comdata promotes Daly to EVP
Posted on April 27, 2009 at 10:33 pmPreviously the senior VP in charge of merchant solutions, Joe Daly will now also head up the payment processor’s health care and prepaid groups. He’s been with the Brentwood-based company since 2004.
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iPayment profits rise
Posted on March 31, 2009 at 10:25 pm
The payment processor earned $14.3 million in 2008, more than double the numbers from the year before. Sales for the year rose 4.7 percent to $795 million but fell 1 percent in the fourth quarter, a trend the company says will continue this year. Also, the company shaved its long-term to $687 million.
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Fifth Third sells half of payment processor
Posted on March 29, 2009 at 11:48 pmThe sixth-largest bank in the Nashville MSA (Ticker: FITB) will get more than $1.2 billion from Boston buyout fund Advent International.
“The transaction significantly enhances the level and composition of our already very strong regulatory capital position. We believe our strengthened capital position, in combination with our strong credit reserves and earnings power, provide us with the resources and the ability to withstand a more difficult economic environment should that occur.”
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