Dye Durham Taps Goldman and Canaccord for Possible Payments Unit Sale
Dye Durham, a payments technology company, has tapped Goldman Sachs Group Inc. and Canaccord Genuity Group Inc. to explore a sale of its payments unit. The company is looking to capitalize on the growing demand for digital payments solutions.
Background of Dye Durham
Dye Durham is a payments technology company that provides payment solutions to businesses and consumers. It was founded in 2015 and is headquartered in San Francisco, California. The company has grown rapidly over the past few years and now has offices in the United States, Canada, and Europe.
Growing Demand for Digital Payments Solutions
The demand for digital payments solutions has been growing rapidly in recent years. This is due to the increasing popularity of mobile payments, as well as the emergence of new technologies such as blockchain and cryptocurrency. As a result, companies like Dye Durham have seen an opportunity to capitalize on this trend.
Dye Durham’s Payments Unit
Dye Durham’s payments unit provides a range of services, including payment processing, fraud prevention, and data security. The unit also offers a suite of APIs that allow businesses to integrate their payment systems with other services.
Tapping Goldman and Canaccord
In order to explore a sale of its payments unit, Dye Durham has tapped Goldman Sachs Group Inc. and Canaccord Genuity Group Inc. Goldman Sachs is a leading global investment bank, while Canaccord Genuity is a Canadian investment bank. Both firms have extensive experience in the payments industry and are well-positioned to advise Dye Durham on a potential sale.
Potential Buyers
There are a number of potential buyers for Dye Durham’s payments unit. These include large technology companies, such as Apple and Google, as well as financial institutions, such as banks and payment processors. It is also possible that a private equity firm could be interested in acquiring the unit.
Benefits of a Sale
A sale of Dye Durham’s payments unit could provide a number of benefits for the company. It could provide a significant influx of capital, which could be used to fund further growth and expansion. It could also provide access to new markets and customers, as well as the expertise of the potential buyers.
Outlook
It remains to be seen whether Dye Durham will be able to successfully sell its payments unit. However, the company is clearly taking steps to capitalize on the growing demand for digital payments solutions. With the help of Goldman Sachs and Canaccord Genuity, Dye Durham is well-positioned to explore a potential sale.