Minneapolis-based bank U.S. Bank acquired talech, a Palo Alto, CA-based software company for small and medium-sized businesses to simplify operations and make decisions through an integrated point-of-sale system.
The amount of the deal was not disclosed.
Talech will join the newly formed Digital team led by U.S. Bank chief digital officer Derek White, who joined U.S. Bank earlier this year as part of the company’s on-going digital transformation.
Established in 2012 and led by Irv Henderson, CEO, talech provides software that allows businesses to manage multiple operational tasks – such as order management, inventory and staff reporting, customer management, business insights and payments processing – in a single, integrated point-of-sale system.
The company serves over 8,000 restaurants, retailers and professional services companies representing $2.3 billion in processing volume.
With 74,000 employees and $482 billion in assets as of June 30, 2019, U.S. Bancorp is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States, which blends its relationship teams, branches and ATM network with mobile and online tools.