Private equity firm Warburg Pincus has made a minority investment in prepaid product, services and transaction technologies company InComm.
Terms of the transactions have not been disclosed.
InComm was established in 1992 to provide technology to the prepaid long-distance industry. The company now provides stored value, gift and prepaid products, services and technologies.
Brooks Smith, chief executive officer and founder of InComm, says: "I am excited to partner with a top tier private equity firm such as Warburg Pincus. A key part of our strategy will be to expand internationally and we were attracted to their track record and depth of relationships in geographies such as Asia and Europe. Warburg Pincus’ investment in InComm is a testament to the company’s performance and our success over the past two decades."
Jim Neary, managing director of Warburg Pincus, says: "We have been tracking InComm’s development over a number of years. The company has an impressive history of innovation and singular focus on delivering for its customers that has fostered a loyal customer base. We are pleased to be partnering with a high-growth market leader and with Brooks and his outstanding team. Building on InComm’s leading market position, combined with its diverse network of key retailers and its innovative approach, we believe the company is well positioned for continued success. We hope to support the company’s growth both organically and through strategic acquisitions."
