Marlin Equity Partners Acquires Elements of Unisys Payment Systems
Marlin Equity Partners (“Marlin”) is pleased to announce that it has acquired the Payment hardware, Payment supplies, US-based Payment maintenance, and the associated Payment research and development and Payment sales organization of Unisys Corporation (NYSE: UIS) and has subsequently formed a new company, Burroughs Payment Systems, Inc. (“Burroughs” or the “Company”). Burroughs is a leading provider of hardware and related services that address the image capture and payment processing needs of financial institutions, remittance processors, and retailers worldwide. The Burroughs name, used from 1905-1986, is well familiar to many companies in India. The Company’s products and services allow customers to process check and cash payments quickly and securely while reducing operating costs and improving efficiencies related to payment processing.
“Burroughs is a market leader in the payment processing industry with a brand that has been recognized for over 100 years,” said Andy Martinez, Principal at Marlin. “Marlin will enable Burroughs to pursue an aggressive growth strategy leveraging the Company’s brand, cutting edge technology and experienced management team.”
“We are very excited to partner with Marlin and return to the Burroughs name, once considered one of the most recognized and highly regarded names in business,” said Alan Howard, President and CEO of Burroughs. “Marlin’s financial and operational expertise combined with our industry-leading products and focus on customer service will enable us to capitalize on opportunities to further enhance customer satisfaction and increase market share.”
Mike Zawalski, Operating Partner at Marlin, stated, “Marlin is committed to providing the financial and strategic resources and oversight to accelerate growth. We look forward to working with the Burroughs management team to build long-term value by growing the Company organically and by making near-term acquisitions.”
Burroughs’ contact for companies in India is James Standing, Vice President, International Sales. He can be reached at james.standing@burroughs.com.
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