Integrated payment and commerce solutions provider Paya has acquired First Billing Services (FBS), a provider of electronic bill presentment and payment solutions based in Ohio.
Set up in 2011, FBS caters to more than 600 utility as well as municipal government clients.
Under the agreement, Paya will offer capital to support the technology services of FBS.
Moreover, Paya will integrate the online billing and software applications of the acquired entity into its commerce platform Paya Connect.
FBS founder and CEO Pat Dorsey said: “Joining Paya will allow us to better serve our existing customers and expand the customised solutions available to them.
“We’re proud to have created a one-stop, integrated, billing and payments platform for our customers.”
The deal is said to be part of Paya’s plan to back firms having integrated payment and software capabilities in high-growth vertical markets.
Paya CEO Jeff Hack said: “The deep expertise, technology and proven success that the FBS team has achieved with utilities and governments complements the work Paya has already completed to enable the most flexible, vertically tailored and integrated commerce solutions.
“We’re delighted to welcome our FBS colleagues and support FBS’s growth plans while also making these capabilities available to all Paya partners.”