Advent teams up with Eurazeo in Swiss digital payment provider Datatrans buyout


Private equity majors Advent International and Eurazeo have teamed up to acquire Swiss digital payment provider Datatrans.

Datatrans provider digital payment services for more than 5,000 online merchants. It helps online businesses secure Payment Card Industry compliance by using a platform which converts sensitive card data into a token before it reaches an online merchant’s system.

The firm said Datatrans can be adapted to the individual needs of online merchants by offering configurable rather than off-the-shelf solutions. It said the new investment will support the expansion into new European markets and expand the use of its platform across retail, gaming and digital services in North America and Europe.

Advent was reported to be seeking up to $25bn for a mammoth new fund last month. The news came just two years after it hit a $17.5bn hard cap close for its previous flagship investment vehicle, GPE IX. It closed Fund VIII on $13bn in 2016.

Eurazeo hauled in €1.6bn for its growth strategy targeting equity investments in European tech companies in July. The group has put in €320m of capital towards the strategy while €200m has come from retail clients.

It also powered to a €1bn final close in the same month for its fourth secondaries fundraise, almost double the total it collected for its previous programme in the series.

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