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February 26, 2021Blog Posts

Transaction Services Group and Clearent Merge to Form Xplor, a Global Platform Integrating Software, Payments and Commerce-Enabling Solutions

Transaction Services Group

Clearent, a full-service, integrated payment solutions provider based in the United States and Transaction Services Group (TSG), a global provider of business management software and integrated payments for the subscription economy, today announced that they have entered into a definitive merger agreement. TSG and Clearent, both portfolio companies of Advent International (“Advent”), one of the world’s largest private equity firms and a leading investor in payments technology, are combining to create a superior global platform designed to integrate software, payments, and commerce-enabling solutions for specific vertical markets.

The resulting company will be relaunched as Xplor Technologies serving over 82,000 businesses that processed over $27 billion in payments, operating across 158 countries in 2020. The group’s offering combines enterprise software solutions for businesses in five industry verticals – Education, Health and Fitness, Boutique Wellness, Field Services and Personal Services – and a global, cloud-based processing platform that allows clients to seamlessly and securely process payments for their services.

The new company will also provide a range of commerce-enabling solutions such as CRM and loyalty program applications, online learning and training software, consumer engagement mobile apps, employee service delivery mobile apps, and billing and account management services that help businesses thrive and prosper by maximizing customer engagement and optimizing operations.

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