Builds upon Vantiv's strategy to expand into high-growth channels and verticals
Increases Vantiv's differentiated ecommerce capabilities
Positions Vantiv to capitalize on the rapidly-growing B2B payments vertical
Creates cross-selling opportunities for Paymetric and Vantiv
Headquartered in Atlanta, Ga., Paymetric automates B2B payment workflows within enterprise systems, including SAP, Oracle, Hybris, Salesforce and more. Paymetric also tokenizes payments data within these systems in order to enable secure storage of customer information and history.
Card-based transactions are the fastest growing segment within the $30 trillion B2B payments vertical1, whether acquired through the web, a mobile device or a customer service center. Yet nearly 70% of companies lack the back-office capabilities and systems integration necessary to efficiently accept these transactions2. By integrating leading ERP and CRM systems with robust payments capabilities, Paymetric helps the world's most recognized companies optimize workflows, save time and reduce costs.
"Acquiring Paymetric builds upon our strategy to expand into high-growth channels and verticals," said Charles Drucker, president and chief executive officer of Vantiv. "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 continues Vantiv's M&A strategy to leverage its platform and expand and diversify the channels and clients it serves.
"By becoming part of Vantiv, we will be able to accelerate the development of our advanced payments integration and security solutions," said Asif Ramji, president and chief executive officer of Paymetric. "Together, Paymetric and Vantiv will now both be able to offer an expanded suite of services to our clients and partners. We are excited to become part of Vantiv."
"Where Asif and the team at Paymetric have taken the business over the past several years is truly exceptional," said Peter Christodoulo, partner at Francisco Partners. "Paymetric has become the clear leader in providing critical electronic payments infrastructure and security into enterprise environments, and we are proud to have helped play a role in building this enduring platform. We wish the team continued success as part of Vantiv, where we know they will continue to do great things."
The transaction is expected to close during the second quarter of 2017, subject to required U.S. antitrust clearance and other customary closing conditions. Financial terms were not disclosed.
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