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Troubled merchant-service provider Cynergy Data LLC has a new owner following a recent approval by a U.S. Bankruptcy Court for the District of Delaware. The Comvest Group, a West Palm Beach, Fla.-based private investment firm, paid $81 million for Cynergy Data following an auction earlier this month that drew no other bidders (CardLine, 9/22). In its bankruptcy filing, Cynergy Data said it had $109.5 million in assets and $186.2 million debt. A Comvest spokesperson tells CardLine sister publication ISO&Agent Weekly that Comvest 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 CEO, remains with the company as vice chairman and executive vice president of business development. Cynergy Data says its processes transactions valued at $10 billion annually for nearly 80,000 merchants.

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