Planet Payment Inc.'s board has started a process to explore and evaluate potential strategic alternatives, which could include the sale of the company or a merger with another party.
The alternatives could also include other strategic transactions or continuing to execute on the company's stand-alone business plan.
The board has not set a timetable for the process nor has it made any decisions related to any specific strategic alternatives. The company said there were no assurances that the exploration would lead to a transaction.
Financial Technology Partners LP and FTP Securities LLC are acting as financial advisers to the company, while Goodwin Procter LLP is acting as legal adviser.