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Payroc to acquire i3 Verticals' Merchant of Record Payments Business for $440 million

Jun 28, 2024•about 1 year ago

Acquiring Company

Payroc

Acquired Company

i3 Verticals

Tinley ParkNashvillePaymentsFintechInformation TechnologySoftware

Description

Payroc WorldAccess LLC, an omni-channel payments provider, has agreed to acquire the merchant services business and related payments software and technology solutions of i3 Verticals, LLC in an all-cash transaction for $440 million. This acquisition will further strengthen Payroc's distribution capabilities and expand upon its suite of proprietary software solutions available to its merchants and partners, allowing Payroc to continue to be a leader among the banking and non-banking payment solutions.

Company Information

Company

Payroc

Location

Tinley Park, Illinois, United States

About

Payroc is a high-growth, multi-national payments platform, merchant acquirer, and processing powerhouse processing over $93 billion in annual volume for more than 158,000 merchants. Founded in 2003, Payroc offers best-in-class sales enablement and merchant processing technology. Payroc enables unified commerce that helps businesses grow faster by delivering proprietary, innovative, and full-service solutions with key card brand network payment sponsorship registrations.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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