US Bancorp-owned payments firm Elavon has acquired CenPOS.
CenPos provides integrated payment software solutions to large enterprises, for an undisclosed sum.
The acquired entity focuses on automotive, travel and entertainment, as well as general business-to-business transactions. The company is based in Florida.
The distribution strategy and product capability of CenPOS is said to complement Elavon’s assets.
Commenting on the deal, Elavon CEO Jamie Walker said: “Elavon recognises the tremendous potential we have to bring greater value to our customers by integrating with software companies like CenPOS. More and more, businesses are choosing their payment provider based on the software solutions they use to manage other parts of their operations.
“With this acquisition, customers of both companies will benefit from the strengths and opportunities these organisations offer in important industry segments.”
CenPOS CEO and co-founder Jorge Fernandez added: “Elavon’s suite of payment products, coupled with the stability and array of financial offerings from U.S. Bank, gives CenPOS an unparalleled competitive edge in the market.
“Likewise, CenPOS’s technology brings new market expertise to Elavon’s current technology solutions.”
Last year, Elavon purchased Electronic Transaction Systems, a Virginia-based payment systems developer for various businesses.
Earlier this month, Elavon secured direct access to the UK’s Faster Payments scheme.