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 Park

NashvillePaymentsFintechInformation 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 WorldAccess, LLC is a high-growth merchant acquirer, processor, and payment integrations powerhouse processing more than $80 billion in annual transaction volume in over 45+ markets, for more than 151,000 merchants. Payroc WorldAccess, through its subsidiaries, offers best-in-class sales enablement and payment processing technology on a global scale, delivering proprietary, innovative, and full-service merchant acquiring solutions together with key card brand network payment sponsorship registrations. Payroc (through its subsidiaries) is a registered Visa third party processor, Mastercard third party servicer, payment facilitator and encryption support organization for Fifth Third Bank, National Association (“Fifth Third”), and in Canada is registered with Peoples Trust Company, Vancouver, Canada among many others. To learn more, visit http://www.payroc.com.

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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

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