VersaPay completes acquisition of DadeSystems

Toronto-based VersaPay Corp. completed its acquisition of Miami-based payment processing software solutions provider DadeSystems LLP for an undisclosed amount.

DadeSystems investor Ten Coves Capital LP is rolling its stake into VersaPay, which is backed by Great Hill Partners LP. Both institutional investors are contributing additional capital to fund the acquisition.

The DadeSystems team will continue to operate in Miami and will be fully integrated with VersaPay's North American teams, according to a news release.

Alston & Bird LLP was legal adviser to VersaPay for the transaction. William Blair was exclusive financial adviser and Morris Manning & Martin LLP was legal adviser to DadeSystems.