FinTech news in Computer Services category

Showing that the regtech industry remains robust to economic headwinds, private equity firms Centerbridge Partners and Bridgeport Partners today announced plans to acquire the publicly-traded Computer Services, Inc. (CSI), a provider of payments processing and regulatory compliance services, for $1.6 billion in an all-cash deal. Centerbridge and Bridgeport note that the deal, if approved by shareholders and regulators as they expect in Q4 2022, will net CSI shareholders a 53% premium over CSI’s closing stock price as of August 19. CSI’s board unanimously approved the plan to take the company private; post-acquisition, its stock will no longer be listed on the public market. Throughout the 1980s, CSI built a network of data centers, began selling its first PC software, and developed what it claims was one of the first online ATM systems.