Vantiv has inked a deal to acquire Atlanta-based Paymetric for an undisclosed amount but set to close by June 30th, pending U.S. antitrust clearance.
Paymetric automates B2B payment workflows within enterprise systems, including SAP, Oracle, Hybris, Salesforce and more. Paymetric also tokenizes payments data within these systems in order to enable secure storage of customer information and history.
Card-based transactions are the fastest growing segment within the $30 trillion B2B payments vertical, whether acquired through the web, a mobile device or a customer service center. Yet nearly 70% of companies lack the back-office capabilities and systems integration necessary to efficiently accept these transactions.
By integrating leading ERP and CRM systems with robust payments capabilities, Paymetric helps the world’s most recognized companies optimize workflows, save time and reduce costs.
The acquisition continues Vantiv’s M&A strategy to leverage its platform and expand and diversify the channels and clients it serves.
Credit Suisse acted as the lead financial advisor to Vantiv, and Benesch served as its legal advisor. William Blair & Company acted as the exclusive financial advisor and Kirkland & Ellis LLP acted as legal advisor to Paymetric.
Vantiv is a payment processor differentiated by an integrated technology platform. 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.
Vantiv is the largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company’s growth strategy includes expanding further into high-growth channels and verticals, including integrated payments, eCommerce, and merchant bank.