Epos Now is considering selling a minority stake in the company to a strategic partner, aiming to fuel its next stage of growth. According to CEO Jacyn Heavens, the British payments group will initiate a private placement process after the summer.
“Our goal is to accelerate our growth, enabling us to provide even more incredible and unique tools to the merchants we support,” Heavens explained in an email to PYMNTS.
This announcement follows a Reuters report on Wednesday (May 1), which cited unnamed sources claiming that Epos Now was exploring a sale and other strategic options with advisors.
The privately held business is reportedly seeking a valuation of up to $1.5 billion, with potential investors likely to include private equity firms.
Epos Now offers a comprehensive point-of-sale (POS) solution that serves 63,000 business locations worldwide. According to its website, the solution includes a POS terminal, built-in printer, and card machine, and can function as a standalone system or be integrated with hundreds of apps for payment systems, accounting software, and other capabilities.
The company specializes in providing POS solutions for industries such as retail and hospitality.
In another development in the payments space, Canadian payments FinTech company Nuvei announced on April 1 that it would become a private company in a $6.3 billion deal with private equity firm Advent International.
“This transaction marks the beginning of an exciting new chapter for Nuvei, and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides,” said Nuvei CEO Philip Fayer in a press release at the time.
On February 1, payments technology firm Worldpay became an independent business when former owner FIS finalized the sale of the business to private equity firm GTCR, which now owns 55% of the business. FIS retains a 45% stake in Worldpay.
“As an independent company, Worldpay is committed to bringing greater levels of value, innovation, and service to clients through increased investment in product development, technology, and client solutions,” the company stated in a press release at the time.