By Milana Vinn
NEW YORK (Reuters) – Flywire, a U.S. payments processor with a market value of $2.3 billion, is exploring a sale after attracting takeover interest, according to people familiar with the matter.
Boston, Massachusetts-based Flywire is working with investment bankers at Qatalyst Partners to evaluate interest from potential buyers, which include private equity firms, the sources said.
The talks are at an early stage and no deal is certain, the sources said, requesting anonymity because the matter is confidential.
Flywire and Qatalyst did not immediately respond to requests for comment.
Flywire, which listed in New York in 2021, became an acquisition target after the company’s shares lost more than half their value since its stock market debut.
Payments processors like Flywire thrived during the pandemic as customers turned to digital payment methods, but have since struggled to maintain growth amid increased competition and high inflation.
Founded in 2011, Flywire processes several billions of dollars in transactions and works with more than 4,000 customers in over 240 countries, according to its website.
The company is focused on facilitating payments in industries including education, healthcare and travel. It counts Singaporean state investor Temasek Holdings among its backers.
(Reporting by Milana Vinn in New York; Editing by Anirban Sen and Chizu Nomiyama)
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