TX-REV-WORLDWIDE,-INC
1.8.2022 17:47:04 CEST | Business Wire | Press release
Today Rêv Worldwide, Inc., (“Rêv”), an international fintech company, and Global Payments (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, announced that Rêv, in partnership with funds advised by Searchlight Capital Partners, L.P. (“Searchlight”), has entered into a definitive agreement to acquire the Netspend consumer business from Global Payments in an all cash transaction valued at $1 billion. The acquisition brings back Netspend’s founders, Roy and Bertrand Sosa, who also founded Rêv. The Sosa brothers look to leverage the strategic assets of the two entities to build a global, high growth company that delivers on a mission of financial empowerment and product innovation.
For Searchlight, this transaction represents another exciting partnership with dynamic fintech entrepreneurs while also being able to support growth and innovation for consumer financial services to underserved markets. With this sale, Global Payments delivers on its commitment to divest itself from Netspend’s consumer business, allowing the company to focus on its core B2B operations and growth opportunities with Rêv as a partner.
Since the Sosas founded Netspend in 1999, the company’s consumer business has developed into a clear industry leader in the prepaid and debit card space serving millions of customers nationwide, processing hundreds of billions of dollars of cardholder purchases, and established the largest retail partner network with over 130,000 locations nationwide where consumers can load their prepaid and debit card products. Netspend’s consumer products are also available online via direct-to-consumer mobile and web channels.
“We’ve gone full circle, launching programs with partners around the globe in our journey to provide innovative financial services to underserved mass markets. We are very excited by the opportunity to partner with the Netspend consumer team and Searchlight as we deliver new products, expand into new markets and add more value to customers across the world,” said Roy Sosa, Chairman and Chief Executive Officer, Rêv.
Christopher Cruz, Partner, Searchlight, added “The characteristics of this investment are rare to find. Combining an industry leading operation in Netspend’s consumer business with modern platform technology and digitally native solutions from Rêv unlocks great growth potential by meeting the needs of a significant and sizable market. We look forward to partnering with Roy, Bertrand, and the Rêv team as they continue their mission to financially empower underserved consumers through fintech innovation.”
According to a recent industry report, the global market for Prepaid Cards, estimated at US$1.6 Trillion in the year 2020, is projected to reach US$2.7 Trillion by 2026, growing at a CAGR of 9.6% over the analysis period.
Leveraging its proprietary multi-currency payments and loyalty product platform, Rêv provides mobile-first payment solutions and offers banking-as-a-service capabilities for partners around the world, such as Etihad Airways, Itaú Private Bank, LATAM Airlines; as well as direct-to-consumer branded products owned and managed by Rêv, such as the recently launched X World Wallet currently available in the U.S.
For Bertrand Sosa, President of Rêv, “The market opportunity for Netspend’s consumer business has always been massive, as evidenced by the history of growth the company has experienced. Now we have a chance to expand upon it globally by leveraging unique synergies we bring along with our entrepreneurial spirit.”
The transaction is expected to close in the first quarter of 2023 subject to relevant regulatory approvals, and customary closing conditions.
Jefferies LLC is serving as lead financial advisor, and Nomura Securities International, Inc. is serving as financial advisor to Rêv. Paul, Weiss, Rifkind, Wharton & Garrison LLP is representing Searchlight, Gunderson Dettmer is advising Rêv.
Evercore is serving as financial advisor to Global Payments, and Wachtell, Lipton, Rosen & Katz is representing Global Payments in the transaction.
About Rêv
Rêv is a fintech company, founded by prepaid debit industry pioneers Roy and Bertrand Sosa, dedicated to delivering innovative payment experiences to consumers worldwide. Its solutions are powered by the company’s proprietary multi-currency and multi-language payments processing platform. With vast experience pioneering a number of payment industry firsts, Rêv is focused on the international banking & travel sectors. Rêv has partnered with companies across the globe to launch products in North America, Latin America, Europe, the Middle East, and Asia-Pacific. Learn more at www.revworldwide.com .
About Searchlight
Searchlight is a global private investment firm with over $10 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders. For more information, please visit www.searchlightcap.com .
About Netspend
Netspend is a leading provider of payments and financial solutions for consumers and businesses. From prepaid and debit card solutions to digital account and money movement services, Netspend has a broad suite of products and technologies that deliver exceptional experiences for its customers and business partners. For more information, visit www.netspend.com and follow Netspend on Twitter , LinkedIn and Facebook .
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading payments technology company delivering innovative software and services to customers globally. Our technologies, services and team member expertise allow us to provide a broad range of solutions that enable our customers to operate their businesses more efficiently across a variety of channels around the world.
Headquartered in Georgia with approximately 25,000 team members worldwide, Global Payments is a Fortune 500® company and a member of the S&P 500 with worldwide reach spanning over 170 countries throughout North America, Europe, Asia Pacific and Latin America. For more information, visit www.globalpayments.com and follow Global Payments on Twitter (@globalpayinc ), LinkedIn and Facebook .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220731005089/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
BeOne Presents Compelling Data in Hard-to-Treat Liver and Lung Cancers at ESMO 202624.10.2026 10:15:00 CEST | Press release
Potential first-in-class GPC3 x 4-1BB bispecific achieves a 36% confirmed response rate at Phase 3 dose and favorable safety profile in heavily pretreated liver cancerBrain-penetrant PRMT5 inhibitor shows promising antitumor and CNS activity in the largest publicly shared MTAP-deficient datasetFirst clinical data of CEA-targeting ADC demonstrates encouraging and sustained responses in CEAhigh NSCLC BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced new data from multiple differentiated investigational medicines across its priority solid tumor disease areas at the European Society for Medical Oncology (ESMO) Congress 2026 (October 23–27, Madrid). The presentations span gastrointestinal, lung, and breast cancers, and reflect the growing momentum of BeOne’s solid tumor franchise. Mark Lanasa, M.D., Ph.D., Chief Medical Officer, Solid Tumors at BeOne, said: “At ESMO, we are showing how our strategy of matching the right modality to dise
Phase 3 RAINIER Results Supporting Best-in-Class Potential of Povetacicept in IgA Nephropathy Published in the New England Journal of Medicine and Presented at the American Society of Nephrology Kidney Week 202623.10.2026 19:42:00 CEST | Press release
- Vertex is on track for the U.S. FDA Prescription Drug User Fee Act (PDUFA) date of November 30 for potential accelerated approval of povetacicept –- Data published in NEJM and presented at ASN highlight povetacicept’s unique trifecta of efficacy, favorable safety, and the simplicity of dosing at-home every 4 weeks with a low-volume autoinjector –- Data presented at ASN include a qualitative study examining patient perspectives on current and emerging IgAN therapies, showing that 96% of participants preferred an autoinjector over a prefilled syringe, and 80% of participants preferred dosing every 4 weeks versus weekly dosing - - New clinical studies of povetacicept underway including a study evaluating patient experience on povetacicept administered via autoinjector - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced the publication of Phase 3 RAINIER results for povetacicept in the New England Journal of Medicine (NEJM), presentation of these data at the American Soc
BeOne Medicines Reports Sustained Survival Benefit with TEVIMBRA-ZIIHERA Combination in First-Line HER2+ Gastroesophageal Cancer23.10.2026 16:15:00 CEST | Press release
New data from HERIZON-GEA-01 Phase 3 trial show 36-month overall survival of nearly 40% with TEVIMBRA plus ZIIHERA and chemotherapy, and median OS reaching 27 monthsTEVIMBRA-containing arm was associated with a four-month longer median OS compared with ZIIHERA plus chemotherapy BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced new survival results from the planned second interim analysis (IA2) and final formal analysis of the Phase 3 HERIZON-GEA-01 trial, further confirming the benefit of TEVIMBRA® (tislelizumab) plus ZIIHERA® (zanidatamab) and chemotherapy as first-line treatment for patients with HER2-positive locally advanced or metastatic gastroesophageal adenocarcinoma (GEA). The results will be presented today as a late-breaking abstract during a rapid oral session at the European Society for Medical Oncology (ESMO) Congress 2026 in Madrid, Spain (LBA79). Mark Lanasa, M.D., Ph.D., Chief Medical Officer, Solid Tumors at BeOne,
Lifezone Metals Confirms Advanced Negotiations with Orion CMC on Kabanga Nickel Project23.10.2026 16:10:00 CEST | Press release
Lifezone Metals Limited (NYSE: LZM) notes comments made today by Oskar Lewnowski, Founder and Group Chief Executive of Orion Resource Partners, in an interview with Bloomberg Television regarding the Company’s Kabanga Nickel Project in Tanzania. In response to inbound inquiries from media outlets and investors following the interview, the Company can confirm that negotiations with Orion Critical Mineral Consortium (Orion CMC) regarding a significant equity investment into the Kabanga Nickel Project are at an advanced stage. The Orion CMC is a global investment platform launched by Orion Resource Partners in partnership with the U.S. International Development Finance Corporation (DFC) and Abu Dhabi's sovereign investor ADQ. As previously announced, the Company has been running a competitive process, led by Standard Chartered Bank, to secure a strategic investment into the Kabanga Nickel Project. Social Media LinkedIn | X | YouTube About Lifezone Metals Lifezone Metals (NYSE: LZM) is com
inDrive and Pony.ai Announce Collaboration to Explore Autonomous Mobility in Kazakhstan Built on NVIDIA Hyperion23.10.2026 15:00:00 CEST | Press release
Collaboration will establish the roadmap for bringing Pony.ai robotaxis to Kazakhstan on the inDrive ride-hailing platform, leveraging the NVIDIA Hyperion and the NVIDIA Halos safety system. inDrive, the global mobility and delivery platform, today announced it has signed a memorandum of understanding (MOU) with NVIDIA and Pony.ai, a global leader in the large-scale commercialization of autonomous driving technology, to explore the future of autonomous ride-hailing. Kazakhstan will serve as the first test market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261023143469/en/ inDrive partners with Pony.ai and NVIDIA to explore autonomous mobility in Kazakhstan Kazakhstan was chosen first for its regulatory readiness following the creation of the country’s first structured legal framework for driverless transport, as part of its “Year of Digitalization and Artificial Intelligence.” Combined with Kazakhstan’s position as a lea
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom