Maryland-based Clarus Merchant Services has agreed to purchase the payment processing assets of New York-based ANARAQ for an undisclosed amount.
ANARAQ, a portfolio company of Altpoint Capital Partners, is a financial technology firm specializing in the electronic payment processing industry.
ANARAQ chairman of the board and partner, and Altpoint Capital managing director Andrew Grapkowski said: “ANARAQ has grown significantly both organically and through acquisitions under Altpoint’s ownership since its founding in 2012. As the electronic payment processing sector continues to evolve, we believe that a partner such as Clarus will bring the technology offerings, scale and geographic reach to efficiently continue to grow the ANARAQ merchant portfolio assets.”
ANARAQ founder and CEO John Wu said: “We have been very pleased with ANARAQ’s growth under our management and ownership. We couldn’t have found a better fit in Clarus. We have full confidence that Clarus will continue to build upon the quality electronic payment processing platform that ANARAQ has successfully developed and nurtured since its founding.”