Taylor Wessing advises Nomad on its $58m sale to Metavante
Taylor Wessing has advised London-based Nomad Payments Ltd, the leading provider of prepaid and debit card processing and licensed software in the U.K. and Europe, on its sale to Metavante Technologies Inc.
Metavante Technologies Inc, a US-based leading provider of banking and payments technology, acquired Nomad for approximately $58 million, with Nomad now operating as Metavante Technologies Limited, part of the Metavante International Group. The acquisition of Nomad will allow Metavante to establish a European centre of operations.
The Taylor Wessing team advising Nomad and its selling shareholders on this transaction comprised David Mardle, Kathryn Tarbutt and Adela Solomon (corporate), Robert Young (tax), Glyn Morgan and Jenny Mason (IT) and Naomi Branston (employment).
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For more information please contact Claire Treacy at Taylor Wessing:
Tel: +44 (0)20 7300 4925
Email: c.treacy@taylorwessing.com
Taylor Wessing LLP is a leading law firm providing legal support for commercial organisations doing business in Europe. Based in Belgium, France, Germany and the UK, Taylor Wessing provides the full range of legal services to major corporations and growing enterprises. Taylor Wessing boasts a strong reputation in the corporate, finance and real estate sectors alongside in-depth experience across the full range of legal services including intellectual property and technology, tax, litigation & dispute resolution, employment & pensions and private client.
www.taylorwessing.com
Nomad was established in 1992 as a card payments software provider, establishing its payment division in 2005. Debit and prepaid card processing clients include the Bank of Ireland, Clydesdale Bank, Newcastle Building Society, IDT Financial Services, and Tuxedo Money Solutions. Licensed software clients include Bank Zachodni WBK, the fourth largest bank in Poland, and ING Ukraine and Romania, BRD - Groupe Société Générale, and EFG Eurobank, which operates in Poland, Romania, Serbia and Ukraine. Since 1999, Nomad has been the beneficiary of a number of rounds of venture capital funding, primarily from the two major shareholders, Quester and Foresight.
Metavante Technologies, Inc. (NYSE: MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN debit network and provider of mobile financial services. Metavante (www.metavante.com) is headquartered in Milwaukee. Metavante and NYCE are registered trademarks of Metavante Corporation, which is the principal subsidiary of Metavante Technologies, Inc.
Lawyers David Mardle, Kathryn Tarbutt, Adela Solomon, Robert Young, Glyn Morgan
