GlobalCollect announces investment by general Atlantic

Hoofddorp (The Netherlands), 23 July 2007 – Waterland and Prime Technology Ventures (PTV) announced today that they sold their stake in GlobalCollect, the world’s leading international e-payment service provider, to General Atlantic, a US private equity firm. GlobalCollect’s management continues to hold a substantial stake in the business. The terms of the transaction were not disclosed.

Waterland and PTV acquired GlobalCollect in October 2005. Today, GlobalCollect is the world’s premier payment service provider of local payment solutions for international businesses. GlobalCollect is headquartered in Hoofddorp and has sales offices in San Francisco and Singapore.

Lex Douze, principal at Waterland, said “GlobalCollect has achieved tremendous growth over the past few years. We believe that in the next phase, the company continues to be well positioned to capitalize on the ongoing e-commerce growth and expand its leadership in particular in the US and in Asia.”

Sake Bosch, managing partner at PTV, commented, “The growth strategy for GlobalCollect has proven to be very successful. The company has now established a much stronger competitive position which is opening up further growth opportunities. We thank the GlobalCollect management team for their contribution throughout our ownership and wish the company, its management and staff continued growth in the future.”

The transaction process was managed by Lehman Brothers’ Amsterdam office.

2007-07-23T08:00:00+00:00July 23rd, 2007|