December 7, 2020 2 min read


Paysafe Enters $9 Billion Merger Agreement with Foley Trasimene Acquisition

Paysafe announced on December 7 it has entered a definitive agreement with Foley Trasimene Acquisition Corporation for their $9 billion merger.

Deal Expected to Close in H1 2021

Online payments company Paysafe Group Holdings and Foley Trasimene Acquisition Corporation announced today they have reached a definitive agreement for their merger valued at $9 billion.

The new entity will continue operations under the name Paysafe and will be traded on the New York Stock Exchange with the symbol PSFE.

Foley Trasimene will provide the merger with its cash fund, which includes $150 million generated from its acquisition deal with Cannae Holdings and $2 billion from private and institutional investors.

The private placement comprises a $500 million investment from Fidelity National Title Insurance, Commonwealth Land Title Insurance, Chicago Title Insurance, and Fidelity & Guaranty Life Insurance, in addition to $350m invested by Cannae Holdings.

Pending approval from Foley Trasimene shareholders and the US Securities and Exchange Commission, the merger is expected to close in the first half of 2021. Paysafe’s current biggest investors, such as Blackstone and CVC, will remain the same.

“Today, more than ever, businesses and consumers need to connect and seamlessly transact via digital commerce, and this is what Paysafe does best through our industry-leading payment processing, digital wallet, and online cash solutions,”

Philip McHugh, Paysafe CEO

Growth Boost for Paysafe in US iGaming Sector

The deal will allow the combined venture to “accelerate [its] growth opportunities across the business, particularly in fast-growth sectors such as iGaming” and e-commerce, two sectors in which the company is one of the top payments choices, according to Mr. McHugh.

Foley Trasimene founder and chair member William Foley said the group believes it can “further enhance Paysafe’s growth trajectory through accelerated operational transformation and M&A, enabled by [Foley’s] de-levered balance sheet.”

At the end of November, Paysafe made move towards expanding and strengthening its footprint into the US iGaming market by adding Scot McClintic as Senior Vice President iGaming Product & Strategy. The company said it was confident Mr. McClintic will provide key strategic insights via his significant experience in the sector.

Paysafe has shared its desire to offer an easy-to-use solution for the fast-growing online gaming industry in the US, through the creation of a user-friendly payments platform fully unified under a single product.


Mathilde has been writing for over 5 years, with 2 of those years as a specialist in the iGaming industry covering headlines across the world. With her honed research and reporting expertise, Mathilde has solidified her position as a regular author for GamblingNews. Outside of work, she enjoys studying sculpture which is one of her other strong passions.

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