Dechert Advises JetPay on US$184 Million Sale to NCR Corporation
October 23, 2018
Dechert LLP is advising JetPay (NASDAQ: JTPY), a provider of end-to-end payment processing and Human Capital Management solutions, on its agreement to be acquired by NCR Corporation (NYSE: NCR). The transaction will be a cash tender offer of $5.05 per JetPay share, which represents a multiple of 2.9 times 2018 consensus revenue forecast of $63.4 million. The purchase price is approximately US$184 million and will be financed with a combination of cash on hand and existing capacity under NCR’s revolving credit facility. The offer has been approved by each company’s board of directors.
The Dechert team advising JetPay included corporate partners James Lebovitz and Ian Hartman with associates Ross MacConnell and Cynthia Bien; employee benefits partner Eric Rubin and associate Andrew Braid; tax partner Edward Lemanowicz and associate Amanda Reed; labor counsel Ian Downes and associate Rhiannon DiClemente; and intellectual property partner Violetta Kokolus with associate Richard Pell.
About Dechert
Dechert is a leading global law firm with 27 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
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