Global Payments eyes Aussie software startup School Bytes
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The news: US company Global Payments’ Australian arm is eyeing an acquisition of school administration software startup School Bytes.
The numbers: Global Payments has a market cap of USD35 billion ($53.7 billion) and last week posted FY23 revenue of USD9.65 billion.
The context: Startup School Bytes was founded by Blake Barrett while he was still a student at Chatswood High School in 2015. It supplies school administration software to public schools in NSW.
School Bytes is not the first Australian company on Georgia-headquartered Global Payments' radar — it acquired cloud-based school management platform Sentral in 2019.
On Wednesday, Reuters reported that Global Payments was also closing in on a deal to acquire Takepayments, which is expected to value the British company at more than $250 million.
