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Fountain Valley’s Cam Commerce Bought for $180 Million

Shares of Fountain Valley’s Cam Commerce Solutions Inc., a maker of retail and payment processing software, rose after the company said Tuesday it’s set to be bought in a private equity deal for about $180 million.

The stock closed up more than 5% Tuesday with a recent market value of about $165 million.

A unit of Boston-based private equity firm Grant Hill Partners agreed to pay $40.50 a share for Cam Commerce Solutions, 8% more than what the shares were trading at before the deal.

Cam Commerce targets small and midize retailers and online stores.

Its software does business tasks such as managing inventory, credit card and gift card processing, accounting, Internet sales and customer loyalty programs, among other things.

The company’s board has approved the deal, which is expected to close in the third quarter.

The deal was reached after the board reviewed strategic alternatives for Cam Commerce, which has seen its stock trade lightly for a while now.

“While we have seen excellent growth in recent years, our stock has a small float and continues to be thinly traded,” Chief Executive Geoff Knapp said.

RBC Capital Markets and Newport Beach-based Stradling Yocca Carlson & Rauth acted as advises to Cam Commerce in the deal.

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