AffiniPay, which provides online payment services and software to the professional sector, is looking for a new owner, according to four banking and private equity sources.
Backed by TA Associates, AffiniPay has hired advisors and launched a sales process. The auction began a few weeks ago, and the Austin-based company has been holding fireside chats, one source told Fortune. AffiniPay produces more than $100 million of EBITDA and could sell for 20 times that figure—about $2 billion—the sources added.
