The US payments industry saw a drop of 3.2% in overall deal activity during Q3 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 30 deals worth $848.68m were announced in Q3 2019, compared to the last four-quarter average of 31 deals.
Venture financing was the leading category in the quarter with 20 deals which accounted for 66.7% of all deals.
In second place was M&A with ten deals, accounting for 33.3% of overall deal activity in the country’s payments industry during the quarter.
In terms of value of deals, M&A was the leading deal category in the US payments industry with total deals worth $578.64m, followed by venture financing deals totalled $270.04m.
The US payments industry deals in Q3 2019: Top deals
The top five payments deals accounted for 78.8% of the overall value during Q3 2019.
The combined value of the top five payments deals stood at $669m, against the overall value of $848.68m recorded for the month.
The top five payments industry deals of Q3 2019 tracked by GlobalData were:
1) Invus Opportunities, LL Funds, Oaktree Capital Management and QED Investors’ $200m venture financing of Mission Lane
2) The $190m acquisition of Health Credit Services by Ally Financial
3) PayU Argentina, DN Capital (UK), Generation Investment Management, Owl Rock Capital Partners, Princeville Global, Prudential Financial, Schroder & Co Bank, Stripes Group and Top Tier Capital Partners’ $135m venture financing of Remitly
4) The $76m venture financing of Tipalti Solutions by 01 Advisors 01, Greenspring Associates (UK), Group 11 and Zeev Ventures
5) Activant Capital Group, Benny Joseph, Brett Jackson, Dave Heath, Evan DiMeglio, Jon Tam, Kelly Cooper, Kevin Han, Kevin Weinman, Melissa Mash, Paul Zaengle and Tribe Capital’s venture financing of Bolt Financial for $68m.
Verdict deals analysis methodology
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.