Payment processor Vantiv Inc said it would purchase Mercury Payment Systems LLC for about $1.65 billion from private equity firm Silver Lake Group LLC to boost its point-of-sale payment systems.Mercury, which filed to go public this year, said it was suspending its IPO plans.The IPO was expected to value the Durango, Colorado-based Mercury at up to $2.5 billion, Reuters reported in November.Vantiv expects the transaction to contribute 1-2 percentage points to its net revenue growth per year and to modestly add to its earnings per share in 2014.
Vantiv, Inc., formerly Advent-Kong Blocker Corp. is a holding company that conducts its operations through its majority-owned subsidiaries, Vantiv Holding, LLC (Vantiv Holding) and Transactive Ecommerce Solutions Inc. Shares of VNTV traded higher by 3.11% or $0.9/share to $29.82. In the past year, the shares have traded as low as $23.97 and as high as $34.42. On average, 1599000 shares of VNTV exchange hands on a given day and today's volume is recorded at 3562791.
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