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CardConnect, King of Prussia, PA. based payment processing and technology solutions provider was acquired by blank check company FinTech Acquisition Corp for $180m in cash and $170m in stock. CardConnect was a portfolio company of FTV capital, which invested in the company back in 2010.
FinTech Acquisition Corp. has agreed to buy CardConnect, which is majority owned by FTV Capital. FinTech Acquisition, a blank check company, is paying approximately $180 million in cash and $170 million in FNTC common stock. King of Prussia, Pennsylvania-based CardConnect is a payment processing and technology solutions provider. Piper Jaffray & Co. acted as M&A Advisor to FNTC; Cantor Fitzgerald & Co. acted as Capital Markets Advisor to FNTC; while Ledgewood was FNTC’s attorney. Financial Technology Partners advised CardConnect while Kirkland & Ellis LLP acted as legal counsel.
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