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CSG Has Acquired ICheckGateway.com, ("ICG Pay") For $17M; ICG Pay Has Historically Delivered Double-Digit Organic Revenue Growth With 2023 Total Revenue Less Transaction Fees Of ~$9.5M

Benzinga ·  Jun 4 04:08

CSG (NASDAQ:CSGS) today announced it has acquired iCheckGateway.com, LLC ("iCG Pay"), a North American ACH and credit card payment processing company. Management expects this acquisition to be accretive to CSG's 2024 profitability.

iCG Pay has historically delivered double-digit organic revenue growth with 2023 total revenue less transaction fees of approximately $9.5 million. CSG paid an upfront purchase price of $17 million1.

1 There are additional earn-out amounts tied to performance goals.

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