Goldenhill International M&A Advisors today announced that it acted as M&A advisor to Ultra Electronics PLC (“Ultra”) in an agreement to sell its CORVID PayGate business to Jonas Computing (UK) Limited (“Jonas”), a subsidiary of Constellation Software, Inc.

CORVID PayGate is a payment processing software business which provides data validation and services to support automated banking and e-commerce transactions. CORVID PayGate has excellent technology but has little in common with the rest of Ultra and thus has better growth prospects with an owner who has specific interests and capability in developing payments processing and software.

For Jonas, the acquisition of CORVID Paygate reflects their ongoing commitment to acquiring complementary payment technologies with synergies across the Jonas UK estate.