FINANCE

Global Payments acquires PayPros

BY Dan Berthiaume

Atlanta — Global Payments Inc. will acquire Payment Processing, Inc. (PayPros). PayPros, based in California, is a provider of fully-integrated payment solutions for 58,000 small-to-medium sized retailers in the U.S.

Under the terms of the agreement and pending regulatory approvals and customary closing conditions, Global Payments will pay $420 million in cash to acquire PayPros, inclusive of tax assets. The transaction is expected to close by the end of Global Payments’ 2014 fiscal year. PayPros’ calendar 2013 annual revenues are anticipated to be approximately $100 million. Global Payments will provide further details when the transaction closes.

"Our acquisition of PayPros will expand our direct distribution, add new vertical markets, accelerate growth in our largest geography and further enhance our existing integrated solutions business with the addition of PayPros’ talented team," said Jeffrey S. Sloan, president and CEO of Global Payments.

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News

SmartFurniture.com expands Adobe Marketing Cloud rollout

BY Dan Berthiaume

Chattanooga, Tenn. — To increase control of its digital activities, SmartFurniture.com chose to implement a stable of proprietary and third-party analytics, campaign management, and optimization tools. However, the solutions lacked the functionality and flexibility necessary to capture, analyze, and transform data into actionable insights, so SmartFurniture.com expanded adoption of Adobe Marketing Cloud.

In addition to offering seamless integration between solutions, robust functionality, and support backed by industry best practices, the company saw an opportunity to streamline marketing and help staff become more productive. Leveraging Adobe Analytics, part of Adobe Marketing Cloud, SmartFurniture.com began to better understand its overall customer base. The company also identified key segments that make up a high proportion of its customer audience, including young professional males in large metro areas and customers who are well established professionally. With this information, the company could begin to gather insights into what content and design elements could drive engagement and conversion.

Combining customer data and Adobe Target, SmartFurniture.com is improving online experiences, as well as experimenting with changes to layouts, promotions, messaging, and other content. Today, the company can quickly determine which new experiences are positively, negatively, or not at all affecting customer engagement and revenue.

“In addition to tailoring experiences for high-value customers with Adobe Marketing Cloud, we can serve optimized experiences to all audiences to convert them into loyal customers,” said Gil Cayabyab, VP of marketing for SmartFurniture.com. “We can also tap into potentially valuable audiences visiting the site, such as small businesses that buy our products in large quantities.”

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OPERATIONS

The Pantry recommends against board nominees

BY Dan Berthiaume

Cary, N.C. – The Pantry has confirmed that JCP Investment Management, LLC, and Lone Star Value Management, LLC (“the dissident group”) submitted a notice of intent to nominate director candidates to stand for election to The Pantry’s board of directors at the company’s 2014 annual meeting of stockholders.

After discussions between the company (management and selected directors) and the dissident group, the company’s corporate governance and nominating committee reviewed several individuals put forward by the dissident group and determined that they should not be nominated by The Pantry to serve on the board of directors.

After carefully evaluating several individuals put forward by the dissident group, we have determined that they do not possess the particular experience and expertise that the company is seeking in director candidates at this time,” said the Pantry in a written statement. “Our board is currently composed of 10 highly qualified directors, nine of whom are independent, who together possess significant retail, convenience store, consumer packaged goods, foodservice and financial experience that is highly relevant and critical to our business.”

The Pantry has had its current leadership team in place since March 2012 and will submit its board nominees in a proxy statement with the SEC prior to its March 2014 annual meetings.

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