First Data will exit MineralTree after Global Payments agreed to purchase the payment automation technology producer.

Payment technology provider Global Payments has agreed to buy MineralTree, a US-based payment automation technology producer backed by financial services firm First Data and financial services and investment group Fidelity, for $500m. MineralTree produces software tools used to automate payment processes including accounts payable, virtual card payments and invoice payments. Its product is used by…

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