Goldfinch Partners and The Baupost Group, have reached the initial closing in the acquisition of Western Union Business Solutions (WUBS) for USD910 million.
WUBS, which will be renamed Convera as a new standalone B2B global payments company, had a record 2021 with over 20 percent revenue growth and payments volume of USD170 billion. Patrick Gauthier, who was most recently the Global Head of Amazon Pay, will serve as Convera’s CEO.
Convera will add several veteran fintech professionals to its leadership team with experience at companies including Amazon, BCG, BCG Digital Ventures, PayPal and Visa. These include Jodi Krause (Chief People Officer), Dharmesh Syal (Chief Technology Officer), Jody Visser (Chief Transformation Officer) and Drew Weinstein (Chief Commercial Officer). They are joining the existing WUBS leadership team including Michel Foricher (Head of Operations), Andrew Summerill (Chief Financial Officer) and Tristan van der Vijver (Chief Compliance and Risk Officer).
Read more: Private Equity Wire
