Global Payments Inc., one of the largest worldwide providers of payment solutions, announced Wednesday that it has completed the acquisition of Payment Processing, Inc. (PayPros), an innovative provider of fully-integrated payment solutions for 58,000 small-to-medium sized merchants in the United States. PayPros delivers its products and services through a network of over 1,000 technology-based enterprise software partners to vertical markets that are complementary to the markets served by Accelerated Payment Technologies, Inc., a Global Payments company since October 2012.

Under the terms of the agreement, Global Payments paid a purchase price of $420 million in cash, funded by a combination of cash on hand and the company's new unsecured term loan facility. The company does not expect the acquisition to have a material impact on its fiscal 2014 operating results.