TA Associates' BluePay buys VersaPay’s merchant services portfolio

U.S. payment services company BluePay Processing Inc has acquired the merchant portfolio of VersaPay Corp (TSX-V: VPY), a Canadian cloud-based invoice presentment and payment provider. The deal, announced in November, reflects closing and post-closing payments of $11 million. Toronto's VersaPay said the deal will allow the company to focus on its core accounts receivable solution, while Naperville, Illinois-based BluePay said it will improve its overall market position. BluePay has been backed by U.S. technology private equity firm TA Associates since 2013.

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