Global Payments Acquires eWAY to Shore up Australian Presence
April 11, 2016
During its fiscal third quarter 2016 earnings call last week, Jeffrey Sloan, CEO of Global Payments, revealed the Atlanta-based payments processor has acquired Australian e-commerce gateway provider eWAY. Sloan compared the acquisition to one Global Payments announced a year ago, when it nabbed Irish online payments provider Realex for $126 million. While the companies did not disclose financial terms of the agreement, The Canberra Times reported that Global Payments acquired eWAY and its 40,000 merchant customers in Australia and New Zealand from founder and Canberra native Matt Bullock for $50 million.
On the earnings call, Global Payments CFO Cameron Bready highlighted eWAY as the kind of smaller acquisition the company is willing to make while still trying to close its $4.3 billion megadeal for Heartland Payment Systems. Bready said eWAY will continue to improve Global Payments’ scale in an Australian market it finds “attractive” and that has “good dynamics where our businesses are geared towards higher margin solutions.”