The Private Equity team advised Hyperwallet, a portfolio company of client Primus Capital, in its agreement to be acquired by PayPal Holdings, Inc. (NASDAQ: PYPL) for $400 million in cash, subject to certain adjustments. The transaction is expected to close in the fourth quarter of 2018, subject to customary closing conditions, including regulatory approvals.
Hyperwallet’s global payout platform provides growing organizations with a fast, efficient, and transparent way to distribute funds to payees almost anywhere in the world. Trusted by enterprise, ecommerce, and on-demand platforms, Hyperwallet makes it easy to deliver a superior payment experience through a single integration. The company has offices in San Francisco, Austin, London, Sydney, and Vancouver.
The Goodwin team was led by partners Stuart Rosenthal and Christopher Dwyer and associate Simone Greenspan with assistance from partners William Weiss, James Mattus, counsels Jacqueline Klosek, Todd Hahn and Kyle Pine and associates, Steven Argentieri, Morgan Frisoli, Christina Bouchot and summer associate Luke Neveu.
For additional details on the acquisition, please read the press release.