American U.S. Bank is expanding its digital expertise and offerings by buying talech for an undisclosed amount.
Since launching in 2012, Palo Alto-based talech has made a name for itself by creating payment, order management and a slew of other business software solutions. Today it serves more than 8,000 restaurants, retailers and professional services companies.
Derek White, chief digital officer at U.S. Bank., said that the acquisition was a key part of the financial institution’s push to transform how it interacts with customers. With the purchase of talech, U.S. Bank hopes to change how its customers engage with their money.
“We have an ambitious roadmap to deliver one amazing experience for our customers,” said White. “Strategic acquisitions are one of the ways we are moving with speed and scale. Acquiring talech makes a lot of sense for a number of reasons, not the least of which is we share a vision for helping businesses simplify their operations and make better decisions through an integrated point-of-sale system.”
Irv Henderson, founder and CEO of talech, echoed the sentiment that U.S. Bank and talech “have a shared vision with complementary capabilities for helping business owners make better data driven decisions through software tools.”
Henderson said, “We have enjoyed a long and productive relationship with U.S. Bank, and we are excited to be part of the team.”
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