Goldfinch Partners & Baupost Acquire Western Union Business Solutions (renamed Convera)
March 1, 2022
Goldfinch Partners and The Baupost Group have completed an initial closing to acquire Western Union Business Solutions for $910 million, creating a standalone B2B global payments company to be renamed Convera. The business recorded strong growth in 2021 (roughly $170 billion in payments volume) and will be led by incoming CEO Patrick Gauthier as the new owners invest in product, technology and talent to accelerate growth.
- Buyers
- Goldfinch Partners, The Baupost Group
- Targets
- Western Union Business Solutions (to be renamed Convera)
- Sellers
- The Western Union Company
- Industry
- Financial Services
- Location
- Washington, United States
- Transaction Type
- Buyout
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