Vantiv buys B2B payments firm Paymetric

Payments processor Vantiv is acquiring B2B payments company Paymetric from private equity firm Francisco Partners. The financial terms of the deal are undisclosed.

Atlanta-based Paymetric develops software to automate B2B payments and counts enterprise brands such as SAP, Oracle, Hybris and Salesforce among its clients.

Vantiv says the deal comes as a continuation of its M&A strategy to leverage its platform and expand and diversify the channels and clients it serves.

Vantiv’s president and CEO Charles Drucker commented: “Acquiring Paymetric builds upon our strategy to expand into high-growth channels and verticals.

The Cincinnati-based firm previously acquired credit and debit card processor Moneris for $425m in November 2016.

“Paymetric’s deep system integration and workflow automation expertise will enhance our already-leading ecommerce technology capabilities.

“Paymetric’s B2B focus will also enable us to enter this fast-growing vertical in a unique and differentiated way.

“I am pleased to welcome Paymetric’s employees to the Vantiv team, and I am excited about all of the great things that we will be able to do together.”

The acquisition is expected to close during the second quarter subject to regulatory clearance.

Credit Suisse acted as the lead financial advisor to Vantiv with Benesch serving as its legal advisor.

William Blair & Company acted as the exclusive financial advisor with Kirkland & Ellis acting as legal advisor to Paymetric.

Copyright © 2017 FINTECH GLOBAL

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.