Digital payments businesses have previously proven lucrative investments for private-equity firms.
Photo:
Milan Jaros/Bloomberg News
Apollo Global Management Inc.
APO -0.29%
is nearing a deal to acquire the point-of-sale terminal business of European payments company
Worldline SA
WLN 7.48%
for close to $2.3 billion, according to people familiar with the matter, the latest bet on the growth of digital payments.
The New York-based buyout giant would acquire hardware that allows consumers to use their mobile phones and payment cards to make purchases. The pandemic has accelerated the adoption of digital payments over cash among both consumers and businesses.
A deal, which is expected to be valued at close to €2 billion, equivalent to around $2.3 billion, could be announced in the coming days, assuming the talks don’t break down at the last minute, some of the people familiar with the matter said.
Payments businesses have historically proven lucrative investments for private-equity firms, and the trend toward digital commerce has only boosted the appeal of such companies. In one of the most recent deals, U.S. buyout firm Hellman & Friedman LLC last year completed the sale of Nets Group, a Nordic-based payments company, to Italy’s Nexi SpA for about €6 billion.
Write to Ben Dummett at [email protected]
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