NOVEMBER 17 TO NOVEMBER 23, 2022 | JAXDAILYRECORD.COM
BUSINESS & LEGAL NEWS IN BAKER, CLAY, DUVAL, NASSAU AND ST. JOHNS COUNTIES
Paysafe selects Jacksonville for its North American HQ
INSIDE
BUSINESS STRATEGY
Sorrento makes way for Country Harvest PAGE 10
ABOUT PAYSAFE Paysafe Ltd. says its core purpose “is to enable businesses and consumers to connect and transact seamlessly through industryleading capabilities in payment processing, digital wallet, and online cash solutions.” Brands: IncomeAccess; PaysafeCard; Paysafe:Cash; Viacash; Neteller; PCS; Skrill
Photo by Mike Mendenhall
Paysafe CEO Bruce Lowthers announces Nov. 14 the company plans to establish its North American headquarters in Jacksonville. From left, JAX Chamber CEO Daniel Davis; Dun & Bradstreet CEO Anthony Jabbour; Jacksonville City Council President Terrance Freeman; JAX Chamber Chair Ray Driver; and Florida Deputy Secretary of Commerce Laura DiBella.
Stock: Trades on the New York Stock Exchange as PSFE
The global payment provider plans to bring 600 jobs to the city over the next three years and seeks $13 million in city and state incentives. MIKE MENDENHALL AND MONTY ZICKUHR STAFF WRITERS
J
AX Chamber CEO Daniel Davis said the decision by global mobile and online payment provider Paysafe Ltd. to open its North American headquarters in Northeast Florida will “bridge the London/Jacksonville divide.” London-based Paysafe announced Nov. 14 at JAX Chamber that it intends to bring 600 jobs to Jacksonville over the next three years. Davis said the city’s growing footprint in financial technology and the chamber’s October trip to London were pivotal to the deal. He said fintech and financial services companies were not looking at Northeast Florida until City Council negotiated in 2003 to bring Fidelity National Financial Inc.’s headquarters to Jack-
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2021 total payment volume: $122.4 billion 2021 revenue: $1.49 billion
sonville from California. Fidelity National Financial spun off its financial processing businesses as Fidelity National Information Services Inc., known as FIS, in 2006. According to Davis, the chamber met with more than 50 companies, most of them fintech, while in London during the Jacksonville Jaguars annual overseas football game. “Many of them now know they want to be in Jacksonville,” Davis said. “When we first started, we had to try to explain where Jacksonville was and now they’re coming to us thanks to our friends at FIS and Dun & Bradstreet and the company you’re going to hear about today.” In March 2021, Paysafe merged with Foley
2021 net income: $90.23 million Employees: 3,500 in more than 10 countries CEO: Bruce Lowthers Offices: London; Dublin; Vienna; Sofia and Varna, Bulgaria; Montreal; Miami and Tampa-Clearwater; Atlanta; Houston; Irvine and Westlake Village, California; Minden, Nevada; Madhapur Hyderabad, India; Tokyo
SEE PAYSAFE, PAGE 11
THE MATHIS REPORT
Lennox on Park apartments in Brooklyn moving ahead PAGE 4 RESIDENTIAL REAL ESTATE
Impact of rates on home sales Home prices are stabilizing but the effects of inflation, increasing mortgage rates and low inventory contributed to higher costs in Northeast Florida. PAGE 6 COMMERCIAL REAL ESTATE
Wildlight industrial park Pattillo plans to develop a 1.5 million-square-foot industrial park in the Nassau County master-planned community. PAGE 8
THE BASCH REPORT
LAW & THE COURTS
Cannae part of deal to buy Premier League soccer team
Event honors legal volunteers
Cannae Holdings Inc., the investment company spun off from Fidelity National Financial Inc., is partnering with Fidelity Chairman Bill Foley to buy a British soccer team. PAGE 14
State Attorney Melissa Nelson to speak at The Honorable Harvey E. Schlesinger Spirit of Giving Luncheon. PAGE 16
VOLUME 110, NO. 1 | TWO SECTIONS | PUBLISHED SINCE 1912