Posted October 08, 2018

Global Payments, Inc. announced it will acquire SICOM Systems from LLR Partners in a cash transaction valued at approximately $415 million.

Founded in 1987, Pennsylvania-based SICOM provides enterprise, cloud-based Software-as-a-Service (SaaS) solutions and other technologies to quick-service and fast-casual restaurants — as well as food service management providers — around the world. Its front-of-house, middle-of-house and back-of-house solutions enable food establishments to streamline their operations.

“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,” said Jeff Sloan, Global Payments’ CEO, in a press release. “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.”

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