Global Payments Inc. has completed its $420 million purchase of Payment Processing Inc., a provider of payments technology and services for smaller merchants.
Global Payments, of Atlanta, completed the transaction with cash and a "new unsecured term loan facility," according to a March 5 press release. The companies announced the acquisition in January.
Payment Processing, also called PayPros, brings 58,000 clients it currently serves in the United States. The acquisition is complementary to Global Payments' 2012 purchase of Accelerated Payment Technologies.
Global Payments serves various entities including government agencies, multi-national corporations and independent sales organizations located throughout North America, South America, Europe and the Asia-Pacific region.
Global Payments does not expect the addition of PayPros to affect its fiscal 2014 operating results. The company plans to provide more detail during its earnings call in April.