Safeguard Scientifics, Inc. (NYSE: SFE) announced that its partner company, Transactis, has been acquired by Mastercard (NYSE:MA). Safeguard received total cash proceeds of approximately $57 million, representing an approximate 3.9X cash-on-cash return and approximate 39% IRR, not including immaterial amounts potentially receivable at a later date. Safeguard deployed $14.5 million in Transactis since August 2014.

"We congratulate Transactis Chairman and CEO, Joe Proto, on successfully building Transactis and achieving this milestone and wish him and the rest of the Transactis team success in the future. Safeguard continues to make significant progress in our ongoing efforts to support the growth of, and to monetize, our portfolio of partner companies," said Brian J. Sisko, Safeguard President and CEO. "Safeguard has been such a valuable capital provider and partner to Transactis. We are very grateful to Brian and all his colleagues at Safeguard for their unwavering support from the first day Transactis became a Safeguard partner company through our successful exit to Mastercard," added Joe Proto.

"Including this transaction, since we announced our strategy in January 2018, Safeguard has realized over $180 million in cash proceeds related to monetizations of our partner company interests." Mr. Sisko re-iterated that, "the Safeguard team remains committed to supporting our maturing portfolio, maximizing the overall value of our partner company holdings and monetizing such holdings, in both traditional and non-traditional ways, as opportunities arise."

About Safeguard Scientifics 

Historically, Safeguard Scientifics (NYSE:SFE) has provided capital and relevant expertise to fuel the growth of technology-driven businesses. Safeguard has a distinguished track record of fostering innovation and building market leaders that spans more than six decades. For more information, please visit www.safeguard.com.