Sept 20 (Reuters) - Xplor Technologies Llc, a payments company backed by private equity firm Advent International, confidentially filed paperwork for an initial public offering in the United States on Monday.
The Atlanta-based company was formed after Advent merged https://www.prnewswire.com/news-releases/tsg-and-clearent-merge-to-form-xplor-a-global-platform-integrating-software-payments-and-commerce-enabling-solutions-301235641.html two of its portfolio payments companies Transaction Services Group (TSG) and Clearent, which together processed over $27 billion in payments in 2020, to form Xplor earlier this year.
Xplor could fetch a valuation of $4 billion to $6 billion, Bloomberg News reported https://www.bloomberg.com/news/articles/2021-08-30/advent-is-said-to-explore-taking-payments-firm-xplor-public?sref=WJKVI5nK in August, citing people familiar with the matter.
The company, which runs a cloud-based payments processing platform, also makes enterprise software solutions that are used across five industrial verticals including education, health and fitness, boutique wellness, field services and personal services.
(Reporting by Sohini Podder in Bengaluru; Editing by Shinjini Ganguli)
