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CSG Signs Definitive Agreement to Acquire

Leading, Cloud-Based Payments Solution Provider

Forte Payment Systems, Inc.


Acquisition Extends Capabilities and Addressable Market, 

Supports Digital Transformation and Monetization 


GREENWOOD VILLAGE, Colo. (Sept. 14, 2018) CSG (NASDAQ: CSGS), the trusted partner to simplify the complexity of business transformation in the digital age, announced today that it has signed a definitive agreement to acquire Forte Payment Systems, Inc., a leading provider of advanced payment solutions.

This acquisition extends CSG’s current payment and monetization capabilities, offering an advanced, cloud-based integrated suite of products and solutions across many industries. Forte’s broad offering and strategic partnerships with thousands of merchants, resellers and independent software vendors has fueled its aggressive growth and success in the integrated payments space. This acquisition accelerates CSG’s ability to offer a comprehensive suite of next generation payment solutions that enable service providers to provide a differentiated customer experience.

“This acquisition strengthens our leadership position in the revenue management and payments space and allows us to extend our footprint into new verticals at a time when digital disruption is impacting how every company in every industry serves its customers,” said Bret Griess, president and chief executive officer, CSG. “Today, payments are becoming more complex and payment choices more important to consumers. Consumers demand increased convenience and the ability to easily switch between online and physical stores and between smart devices and traditional forms of payment to compare, review and purchase goods on their terms, through their preferred channel.  Together, CSG with the Forte capabilities will be uniquely positioned to satisfy this ever-increasing demand by consumers and enable companies to increase customer loyalty and share of wallet.”

“Forte’s success lies in our ability to provide a simple, seamless and fully integrated payments experience for consumers.  CSG’s cloud-first philosophy in enabling a digital transformation with some of the world’s leading brands aligns with our heritage and our experience.  The Forte team brings extensive domain expertise in developing innovative payments solutions for a broad range of clients in multiple industries.  With the power and reach of CSG, we will enable a single monetization experience across all channels for consumers, while accelerating our growth across the global enterprise market,” said Jeff Thorness, CEO of Forte Payment Systems, Inc.

Financial Terms

The agreement provides that CSG will acquire Forte, debt-free, for approximately $85 million in cash at closing, net of cash acquired.  In addition, at closing, approximately $13 million in cash may be held back subject to certain tax filings. The foregoing excludes any potential future earn-out payments tied to additional performance-based goals.  The purchase price is approximately one times 2018 revenues.  The acquisition is expected to close by the end of Q4 2018 subject to the satisfaction of customary closing conditions. 

CSG expects the acquisition will be accretive to non-GAAP earnings but dilutive to our consolidated non-GAAP operating margin percentage.  CSG will provide more details regarding the anticipated impact of this acquisition to its financials on its regularly scheduled third quarter earnings call.

CSG will fund the acquisition with cash from its balance sheet and expects to incur certain acquisition-related charges and ongoing amortization of intangible assets related to this acquisition in 2018. 








About CSG

CSG simplifies the complexity of business transformation in the digital age for the most respected communications, media and entertainment service providers worldwide. With over 35 years of experience, CSG delivers revenue management, customer experience and digital monetization solutions for every stage of the customer lifecycle. The company is the trusted partner driving digital transformation for leading global brands, including Arrow Electronics, AT&T, Bharti Airtel, Charter Communications, Comcast, DISH, Eastlink, iflix, MTN, TalkTalk, Telefonica, Telstra and Verizon.

At CSG, we have one vision: flexible, seamless, limitless communications, information and content services for everyone. For more information, visit our website at and follow us on LinkedIn, Twitter and Facebook.

About Forte Payment Systems, Inc.

Founded in 1998 and headquartered in Allen, Texas, Forte Payment Systems, Inc. is a leading provider of innovative payment solutions. Offering unique and scalable enterprise-class solutions, Forte helps organizations of all sizes build, manage and perfect the way they take payments. A single source solution provider, Forte offers full stack APIs and dynamic processing services for developers and merchants who seek comprehensive and robust web, mobile and retail options. Forte’s robust solution offering includes Payment Gateway, eWallet and Tokenization, Check Verification, Check Recovery, EBPP, IVR, Payment / Hosted Order Page (iFrame and JS), and a Virtual Terminal solutions.   Find out more information at



Elise Brassell

Public Relations


+1 (303) 804-4962

Liz Bauer

Investor Relations


+1 (303) 804-4065

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