A blank-check acquisition firm backed by veteran investor Bill Foley said on Monday it had agreed to merge with Paysafe Group Holdings Ltd, valuing the payments platform at around $9 billion, including debt.
Paysafe’s merger with special purpose acquisition company (SPAC) Foley Trasimene Acquisition Corp II will result in the London-based company listing on the New York Stock Exchange under the symbol “PSFE”, the companies said.
The announcement confirmed a Reuters report on Sunday that a deal was imminent. Shares in Foley Trasimene surged 12% pre-market, and were set to open at a record high.
Foley said in an interview that Paysafe had been at the top of his target list of mergers because it had different businesses that could be scaled.
“It’s in a great position and we plan to take advantage of that,” he said.
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