Vantiv, Inc. (NYSE: VNTV), a provider of payments processing services and related technology solutions for merchants and financial institutions, is to acquire Paymetric, an Atlanta, Ga.-based provider of solutions to automate B2B payment workflows within enterprise systems.
The amount of the deal, which is expected to close during the second quarter of 2017, subject to required U.S. antitrust clearance and other customary closing conditions, was not disclosed.
Led by Charles Drucker, president and chief executive officer, Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes, enabling them to address their payment processing needs through a single provider. The acquisition marks a continuation in its M&A strategy of expanding into growth channels including integrated payments, eCommerce, and merchant bank.
Led by Asif Ramji, president and chief executive officer, Paymetric automates B2B payment workflows within enterprise systems, including SAP, Oracle, Hybris, Salesforce and more. It also tokenizes payments data within these systems in order to enable secure storage of customer information and history.
Paymetric is a portfolio company of Francisco Partners.