Wirecard’s U.S. Operations Sold to Texas-Based Payments Company
- Date: 23-Oct-2020
- Source: The Wall Street Journal
- Sector:Financial Services
- Country:Middle East
Wirecard’s U.S. Operations Sold to Texas-Based Payments Company
Wirecard AG's
WDI 7.34%
bankruptcy administrator has sold the failed German fintech's U.S. operations to a company backed by buyout specialist Centerbridge Partners LP, as it continues to dismantle the remains of the business and earn some cash for creditors.
The administrator didn't say how much Texas-based Syncapay Inc., whose investors also include private-equity firms Bain Capital Ventures and Silversmith Capital Partners, paid for the unit. The U.S. arm has remained a largely autonomous, separate legal entity since Wirecard bought the business from
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