Advised Ultra Electronics PLC in the sale of its CORVID PayGate business, a payment processing software business which provides data validation and services to support automated banking and e-commerce transactions, to Jonas Software which operates over 75 independently managed software companies around the world.
Goldenhill advises Ultra Electronics plc in the sale of its CORVID PayGate business
CORVID PayGate business being sold to Jonas Computing (UK) Limited
June 24, 2019 – 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.
About Goldenhill International M&A Advisors
With offices in London, San Diego and Buenos Aires, Goldenhill’s business is to advise our clients in M&A engagements. Our engagements include providing services to Sellers or Buyers in M&A projects in the UK, U.S., Continental Europe, Latin America, Canada, Australia and South Africa. We have extensive experience and a specific emphasis in the financial technology (Fintech), human resources technology (HRtech), IT services and human capital sectors. The majority of our engagements result in cross-border transactions.
June 24, 2019