The troubled merchant service provider Cynergy Data LLC has a new owner following a recent approval by the U.S. Bankruptcy Court for the District of Delaware.
Comvest Group, a West Palm Beach, Fla., investment firm, paid $81 million for Cynergy Data following an auction earlier this month that drew no other bidders.
In its bankruptcy filing, Cynergy Data said it had $109.5 million in assets and $186.2 million debt.
A Comvest representative said it also will invest $35 million in Cynergy Data to be used for new technology and product development, among other things.
Cynergy Data founder Marcelo Paladini, who had been chief executive, remains with the company as vice chairman and executive vice president of business development.
Cynergy Data said it processes transactions valued at $10 billion annually for nearly 80,000 merchants.
