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Morning Outlook

Mid-Market Report: M&A in Payment Systems and Utilities

By Morning OutlookFOXBusiness

Heartland Payment Systems (NYSE:HPY) is buying TouchNet Information Systems for $375 million.

TouchNet’s services allow colleges to process and manage various campus payments such as student tuition, parking, campus events and alumni donations through one platform. Heartland estimates the deal will add more than $60 million in revenue in 2015. The purchase is the largest in Heartland’s history.

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Glu Mobile (NASDAQ:GLUU) is announcing its biggest deal to date. It’s buying Cie Games, a maker of racing games, for $100 million. Glu Mobile also reported a second-quarter profit and revenue that topped Wall Street’s estimates.

There’s a deal in the utility industry, as well: Integrys Energy Services is being acquired by Exelon (NYSE:EXC) for $60 million. The deal will help Exelon reach more customers.

Integrys is the retail electricity and natural-gas unit of Integrys Energy Group (NYSE:TEG), which is being acquired by Wisconsin Energy (NYSE:WEC).

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