November 12, 2014
NEW YORK/ATLANTA — November 12, 2014 — Hunton & Williams LLP represented Worldpay in a definitive agreement to acquire SecureNet Payment Systems. Worldpay is a leading global provider of payments technology and services to merchants. SecureNet is an emerging leader in multi-channel commerce technology and has pioneered the payment industry’s only cloud-based omni-channel solution that integrates payments processing, inventory management and data analytics for merchants. SecureNet’s technology is focused on the high growth integrated payments channel where its technology can be embedded directly in point-of-sale software by developers. The acquisition will combine SecureNet’s payments processing technology with Worldpay’s distribution capabilities, providing an opportunity to accelerate the delivery of an omni-channel environment and product level data analytics to referral partners and merchants.
“The payments industry is evolving quickly as processors look to develop more value-added products throughout the payments cycle and to leverage information to provide improved and more detailed merchant analytics” said Roth Kehoe, who heads Hunton & Williams’ Payment Processing Industry practice and led the Hunton & Williams’ legal team.
Earlier this year, Hunton & Williams’ Payment Processing Industry practice worked with several payment processing companies and equipment manufacturers to create the American Transaction Processors Coalition which advocates for payments companies’ interests at both the state and federal level.
Worldpay, US President and CEO Tony Catalfano said, “Hunton’s payments industry knowledge was key to our selecting it for this important acquisition.” Senior Vice President and General Counsel at Worldpay, US Doug Sandberg, added, “Each member of the Hunton legal team has specific experience in the payments industry and understood how the acquisition fit with our objectives, which allowed all parts of the acquisition team to move effectively and efficiently through the transaction.”
The Hunton & Williams team also includes Robert Green, Jim Kennedy, Dylan Coons, Austin Maloney, Eric Hanson, Scott Austin, Alex McGeoch, Bob Dumbacher, Greg Kinzelman and Jessica Agostinho.
The transaction is expected to close in December 2014, subject to customary regulatory approvals and closing conditions.