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REPAY PICKS UP BILLINGTREE FOR $503M Featured

Repay Holdings was back on the acquisition path this week with the announcement it will buy BillingTree for about $503 million. It is the largest acquisition ever for company which has been sopping up payments companies and came days before Repay announced a 20.4 percent increase in revenue for the first quarter ended March 30.

BillingTree will add about $60 million to. Repay's revenue in 2021. Headquartered in Scottsdale, BillingTree provides payment products for the healthcare, credit union, accounts receivable management and energy industries The deal, expected to close during the current quarter, is for $275 million in cash and $228 million in shares of Repay Class A common stock. BillingTree’s customer included 120 credit unions. For the most recently ended quarter, Repay this week said it lost slightly less than $18 million, an increase of 36.4 percent from a loss of $13.2 million a year ago. Revenue for the most recently ended quarter was $47.5 million, up from $39.5 million a year ago. The company said $4.9 million of the increase in revenue came from the previously acquired companies, Ventanex, cPayPlus and CPS. That represented 61.2 percent of the total. Repay had a $5.9-million tax benefit for the quarter, compared to a benefit of $1.1 million a year earlier. However, operating expenses rose 31.4 percent to $56.3 million, up from $42.8 million a year earlier.

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