OpenEdge
| Company type | Subsidiary |
|---|---|
| Industry | Payment processing |
| Founded | 2014, as a merger of Accelerated Payment Technologies and PayPros, acquired by Global Payments |
| Headquarters | Lindon, Utah, U.S. |
Key people | Robert Cortopassi (President) Jim Hightower (Senior Vice President, Operations) Robyn Thompson (Vice President, Human Resources) Matt Hyde (Vice President, Sales) |
| Revenue |  US$ 600 million (2018)[1] |
| Owner | Global Payments |
Number of employees | 5,001-10,000[2] (2019) |
| Website | OpenEdgePayment.com |
| Footnotes / references [3] | |
OpenEdge is an American company providing financial technology services via payment processing integration.[4] Headquartered in Lindon, Utah, OpenEdge is a subsidiary of Global Payments whose stock is a component of the S&P 500 stock market index.
Business
OpenEdge provides payment processing services to merchants, allowing them to accept credit and debit cards, along with other payment types (this role is known as a merchant acquirer). In return, they receive a percentage of the transaction value (usually about 1-2% for credit cards). They provide these services both directly to merchants, and indirectly through other financial organizations. OpenEdge also develops new software for clients to better integrate with existing systems.[5]
OpenEdge's parent organization is a Fortune 1000 company.[6]
History
In October 2012, Global Payments acquired the smaller Accelerated Payment Technologies for $413 million.[7]
In October 2014, Global Payments announced the rebranding of its vertical markets under the new subsidiary brand of OpenEdge. [8]
In January 2015, it bought Payment Processing (also known as PayPros), a California company, for $420 million.[9] Accelerated Payment Technologies and PayPros operated under the new name of OpenEdge.
In 2018, Global Payments completed acquisition of AdvancedMD - a partner of OpenEdge.[10]
On May 28, 2019, Global Payments announced a $21.5 billion merger with TSYS. The merger is expected to trigger a Federal Trade Commission investigation.[11] OpenEdge's role in the merger is unclear at this time.
References
- ^ "Global Payments To Buy Medical Software Provider AdvancedMD for $700 Million". Digital Transactions. Retrieved 2019-08-12.
- ^ "OpenEdge". LinkedIn. Retrieved 2019-08-12.
- ^ "US SEC: Form 10-K Global Payments Inc". U.S. Securities and Exchange Commission. Retrieved August 12, 2019.
- ^ "'We expect the skyline to change' — Utah County's tech boom is fueling new growth in Lindon". Salt Lake Tribune. Retrieved 2019-08-12.
- ^ "'We expect the skyline to change' — Utah County's tech boom is fueling new growth in Lindon". Salt Lake Tribune. Retrieved 2019-08-12.
- ^ "Global Payments". Fortune.
- ^ CNBC (2012-10-02). "Global Payments closes on APT acquisition". CNBC. Retrieved 2017-12-31.
- ^ Global Payments (2014-10-01). "https://investors.globalpaymentsinc.com/news-releases/news-release-details/global-payments-rebrands-its-worldwide-integrated-solutions". Retrieved 2019-08-12.
{{cite news}}: External link in|title= - ^ Whiteman, Lou (2014-01-24). "Global Payments Swipes Smaller Rival". TheStreet. Retrieved 2017-12-31.
- ^ "Global Payments Completes Acquisition of AdvancedMD". Retrieved 2018-09-24.
- ^ "Global Payment Merger with Total System".