CSG Has Acquired iCheckGateway.com, ("iCG Pay") For $17M; iCG Pay Has Historically Delivered Double-Digit Organic Revenue Growth With 2023 Total Revenue Less Transaction Fees Of ~$9.5M

6/3/24 4:08:08 PM ET

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CSG® (NASDAQ:CSGS) today announced it has acquired iCheckGateway.com, LLC ("iCG Pay"), a North American ACH and credit card payment processing company. Management expects this acquisition to be accretive to CSG's 2024 profitability.

iCG Pay has historically delivered double-digit organic revenue growth with 2023 total revenue less transaction fees of approximately $9.5 million. CSG paid an upfront purchase price of $17 million1.

1 There are additional earn-out amounts tied to performance goals.

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Recent Analyst Ratings for
$CSGS

Date	Price Target	Rating	Analyst
3/27/2024	$61.00	Outperform	RBC Capital Mkts
12/1/2023	$60.00	Buy	Jefferies
11/9/2023	$49.00	Equal Weight	Wells Fargo
8/3/2023	$56.00 → $60.00	Hold → Buy	Stifel
6/21/2023	$82.00	Outperform	Northland Capital
4/4/2023	$65.00	Overweight	Cantor Fitzgerald
3/9/2023	$60.00	Hold	Stifel
11/22/2022	$75.00	Outperform	Oppenheimer

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CSG Has Acquired iCheckGateway.com, ("iCG Pay") For $17M; iCG Pay Has Historically Delivered Double-Digit Organic Revenue Growth With 2023 Total Revenue Less Transaction Fees Of ~$9.5M

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SEC Form SC 13G/A filed by CSG Systems International Inc. (Amendment)

SEC Form SC 13G/A filed by CSG Systems International Inc. (Amendment)

SEC Form SC 13G/A filed by CSG Systems International Inc. (Amendment)

Tran Hai bought $100 worth of shares (2 units at $43.81), increasing direct ownership by 0.00% to 107,517 units (SEC Form 4)

Woods Michael Joseph bought $500 worth of shares (11 units at $43.81), increasing direct ownership by 0.07% to 16,559 units (SEC Form 4)

Woods Michael Joseph covered exercise/tax liability with 1,066 shares, was granted 13,078 shares and bought $1,000 worth of shares (22 units at $46.38), increasing direct ownership by 267% to 16,547 units (SEC Form 4)

$CSGS SEC Filings

SEC Form 10-Q filed by CSG Systems International Inc.

CSG Systems International Inc. filed SEC Form 8-K: Results of Operations and Financial Condition

CSG Systems International Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits

$CSGS Insider Trading

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SVP, Chief Accounting Officer Szwanek Lori covered exercise/tax liability with 570 shares, decreasing direct ownership by 5% to 11,524 units (SEC Form 4)

EVP, General Counsel Bhattacharya Rasmani covered exercise/tax liability with 268 shares, decreasing direct ownership by 0.56% to 47,632 units (SEC Form 4)

EVP, Chief Experience Officer Bauer Elizabeth A covered exercise/tax liability with 280 shares, decreasing direct ownership by 0.34% to 81,352 units (SEC Form 4)

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