Vantiv, a US-based provider of payments processing services and related technology solutions, has signed an agreement to acquire Paymetric, a portfolio company of Francisco Partners.
The acquirer noted that the takeover will boost its differentiated ecommerce capabilities and help the company to capitalise on the fast-growing B2B payments vertical. It will also create cross-selling opportunities for both Paymetric and Vantiv.
Paymetric automates B2B payment workflows within enterprise systems, such as SAP, Oracle, Hybris, Salesforce, among others. It allows companies to optimise workflows, save time and slash costs by combining ERP and CRM systems with robust payments capabilities.
Furthermore, Paymetric tokenises payments data within these systems to facilitate safe storage of customer information and history.
Commenting on the agreement, Vantiv president and CEO Charles Drucker said: “Acquiring Paymetric builds upon our strategy to expand into high-growth channels and verticals.
“Paymetric’s deep system integration and workflow automation expertise will enhance our already-leading ecommerce technology capabilities.
“Paymetric’s B2B focus will also enable us to enter this fast-growing vertical in a unique and differentiated way. I am pleased to welcome Paymetric’s employees to the Vantiv team, and I am excited about all of the great things that we will be able to do together.”
The transaction, subject to required US antitrust clearance and other customary closing conditions, is expected to conclude during the second quarter of 2017