Flywire Acquires Sertifi in $330 Million Deal; Announces Restructuring and Operational Review

Flywire Corporation (NASDAQ: FLYW) announced on February 24, 2025, that it has completed the acquisition of Sertifi LLC, a vertical software and payments platform specializing in digitizing hospitality workflows. According to a recent SEC Form 8-K filing, the all-cash transaction—valued at $330 million upfront and up to an additional $10 million in contingent consideration based on the achievement of specified technical and commercial milestones—marks a strategic expansion for Flywire.

Under the terms of the Purchase and Sale Agreement executed with S Legacy Holdco, Inc. and its shareholders, Sertifi became a wholly owned subsidiary of Flywire as of the closing, which coincided with the execution of the Agreement. Flywire financed the acquisition by utilizing cash on hand along with a portion of the $125 million drawn from its existing credit facility. In connection with the deal, Flywire also agreed to issue restricted stock units valued at approximately $10 million to certain continuing employees of Sertifi.

In addition to the acquisition, Flywire’s recent filing detailed a series of strategic initiatives. The board of directors approved a restructuring plan on February 23, 2025, aimed at streamlining operations and better aligning the workforce with strategic priorities and growth targets. The plan includes a reduction in workforce by roughly 10%, with projected charges estimated between $7 and $9 million—of which $5 to $6 million is expected to result in future cash outlays. The majority of these restructuring expenses are anticipated to occur in the first quarter of 2025, with completion by the end of the third quarter.

Flywire also announced that it is conducting an operational and business portfolio review to assess its core capabilities such as complex, large-value payment processing, its global payment network, and verticalized software solutions. The company plans to evaluate its geographic and product segments, although no definitive timetable has been set for the review’s completion. An investor presentation detailing the review and other strategic elements was made available through the company’s investor relations website.

Further details on Flywire’s performance were provided in the attached press release and investor presentation, which include preliminary unaudited financial results for the quarter and full year ended December 31, 2024. The filings noted that Flywire is engaging in a conference call to discuss these financial results as well as its broader strategic outlook.

Forward-looking statements included in the filing caution investors that various risks and uncertainties could cause actual outcomes to differ materially from those anticipated in the announcement. Flywire emphasized that updates to these forward-looking statements would be provided only as required by law.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Flywire’s 8K filing here.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.