Francisco Partners has purchased a stake in electronic payments software firm Paymetric Inc. for an undisclosed price.
The deal gives the San Francisco private equity firm majority control of Paymetric, which specializes in securing customer payment data by replacing credit card numbers with surrogate numbers to reduce the risk of theft.
The Alpharetta, Ga.-based target says it enables large companies to accept, process and integrate secure payments through retail stores and call centers, as well as on the Web. Paymetric’s software also integrates with enterprise resource planning (ERP) software.
Paymetric has raised roughly $26 million in venture capital, from firms including Santa Monica, Calif.-based Palomar Ventures and Austin, Texas-based Austin Ventures.
Raymond James & Associates advised Paymetric throughout the sale process with a team that included Leslie Ann Brooks, James Bunn, Kate Crespo, Steve Hufford and Erik Prochnow.
The transaction underscores the increasing number of businesses seeking tools for secure payment processing.
For more coverage, see “The Buyside: Global Payments Signs Deal in Midst of Growing Competition.”