Kirkland & Ellis advised Vista Equity Partners, while Wachtell, Lipton, Rosen & Katz advised Global Payments on the deal.
Vista Equity Partners executed the sale of its portfolio company Zego to Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions. Zego provides resident experience management software and digital commerce solutions to property managers primarily in the United States.
Under the terms of the acquisition agreement, Global Payments will acquire Zego in an all cash transaction valued at $925 million. The effective purchase price is approximately $830 million, net of the tax asset. Global Payments will finance the acquisition with its existing credit facility and cash on hand.
Zego (Powered by PayLease) is a property technology company that frees management companies and community associations to go above and beyond for residents through resident experience management solutions.
Global Payments Inc. is a leading pure play payments technology company delivering innovative software and services to our customers globally.
Wachtell, Lipton, Rosen & Katz advised Global Payments with a team led by partner Jacob Kling (Picture).
The Kirkland team advising Vista Equity Partners was led by corporate partners Vlad Kroll and Ari Levi and associates Katherine Ackerman, Alexi Warren and Lisa Alderson.
Involved fees earner: Katherine Schloss Ackerman – Davis Polk & Wardwell; Lisa Alderson – Kirkland & Ellis; Vlad Kroll – Kirkland & Ellis; Ari Levi – Kirkland & Ellis; Alexi Warren – Kirkland & Ellis; Jacob Kling – Wachtell, Lipton, Rosen & Katz;