Oct 22 (Reuters) - U.S. firm Syncapay Inc has bought the
North American unit of German payments company Wirecard AG
, Wirecard's insolvency administrator said on Thursday.
The deal is backed by private investment management firm
Centerbridge Partners, which is making a majority equity
investment in Syncapay, and existing Syncapay shareholders like
Bain Capital Ventures and Silversmith Capital Partners, the
Wirecard North America had put itself up for sale late in
June after its troubled parent firm filed for insolvency. The
unit had said back then that Wirecard North America was a
separate legal and business entity of Wirecard and was
"substantially autonomous" from the German company.
Wirecard collapsed in June after a 1.9 billion euro ($2.25
billion) hole was discovered in its books in what has been
Germany's biggest post-war corporate fraud.
Wirecard North America has been re-branded as North Lane
Technologies and combined with a Syncapay subsidiary named
daVinci Payments, the parties said in a separate statement.
The financial details of the deal were not disclosed.
($1 = 0.8461 euros)
(Reporting by Kanishka Singh
Editing by Chris Reese and Sam Holmes)