FTV Capital to exit CardConnect

FinTech Acquisition Corp. has agreed to buy CardConnect, which is majority owned by FTV Capital. FinTech Acquisition, a blank check company, is paying approximately $180 million in cash and $170 million in FNTC common stock. King of Prussia, Pennsylvania-based CardConnect is a payment processing and technology solutions provider. Piper Jaffray & Co. acted as M&A Advisor to FNTC; Cantor Fitzgerald & Co. acted as Capital Markets Advisor to FNTC; while Ledgewood was FNTC’s attorney. Financial Technology Partners advised CardConnect while Kirkland & Ellis LLP acted as legal counsel.

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