SICOM Acquired By Global Payments In $415M Cash Deal

September 28, 2018 by Dave Haynes

SICOM Systems, which provides digital signage, POS and other software solutions into the QSR and fast casual restaurant sect ors, has been acquired by Global Payments, which does payment technology and software solutions.

Global, based in Atlanta, paid roughly $415 million in cash for the transaction. The S&P 500-listed company says, in a press release, it will finance the acquisition with its existing credit facility and cash on hand.

“The acquisition of SICOM aligns perfectly with our software-driven payments strategy and establishes Global Payments as a leader in one of the largest addressable markets we serve today,” says Jeff Sloan, Global Payments’ Chief Executive Officer. “SICOM’s technologies are highly complementary to our existing Xenial solutions, with the combination providing Global Payments’ market-leading technology solutions across the entirety of the restaurant vertical market. The transaction also allows us to expand our owned software solutions into food service management, a large addressable market globally with attractive fundamentals, while further accelerating our business mix toward technology enablement.”

This is the 3rd acquisition by the company in a year, and was done to round out its offer to the restaurant and food management sector. SICOM gives them 25,000+ locations globally, across 60 countries. They do something like 40,000 digital menu boards. They have POS, kitchen management software and menu board CMS jobs for companies like Burger King, Popeyes and Tim Horton’s, and have developed a reputation for going low on pricing to win jobs (necessary for the guys who now own these three).

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