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InComm Announces Minority Investment by Warburg Pincus
Aug 31, 2012 (12:08 PM EDT)
NEW YORK and ATLANTA, Aug. 31, 2012 /PRNewswire/ -- InComm, the leading prepaid product, services and transaction technologies company, today announced that Warburg Pincus, a leading global private equity firm focused on growth investing, has made a minority investment in InComm. Terms of the transactions were not disclosed.
InComm was established in 1992 to provide technology to the prepaid long-distance industry. Since that time, the company has grown to become the leading provider of stored value, gift and prepaid products, services and technologies, and has partnered with more of the world's leading retailers and providers than any other company. Its unique point-of-sale-activation (POSA) technology has enabled InComm to consistently introduce new products that address current market needs. As a result, the company has been regularly recognized for its innovation and was recently named the leading prepaid organization and best prepaid product distributor at the 2011 Prepaid Awards.
Brooks Smith, Chief Executive Officer (CEO) and founder, InComm said, "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, Warburg Pincus said, "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."
About Warburg Pincus
Since inception, the firm has invested more than $13.5 billion in technology, media and data-driven companies, including investments in BEA Systems, FIS, Interactive Data Corp, Endurance International Group, MLM Information Services, Coyote Logistics, Multiview, CAMP Systems, NeuStar, Nuance Communications, RDA Microelectronics, UGS Capital, VERITAS Software, Wall Street Systems and Ziggo.
The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, Sao Paulo and Shanghai. For more information, please visit www.warburgpincus.com.