Dallas-based Onyx Payments has acquired Spain-based Worldwide Payment Services (WPS). The deal comes on the heels of the company’s acquisition of Net Trans Services last month.
Onyx is a major payment processor for hotels and travel distributors. WPS is a provider of international payment processing.
The two companies have been strategic partners serving joint customers for a number of years and have co-marketed a leading travel agency commission collection product that has served joint customers since 2012.
Onyx says the acquisition is a natural extension of the joint partnership and is an opportunity to fulfill the vision each company actively seeks to bring to the travel industry.
Onyx also says the new company, with the recent acquisitions, will eliminate payment processing and reconciliation barriers and improve efficiencies, while increasing commerce transparency between hotels and travel distributors. Over the coming months, the company will communicate how new and existing travel distributor and hotel customers will be able to take advantage of its evolving and innovative solution set.
In April of 2013, H.I.G. Capital (a global private investment firm with more than $17 billion of capital under management) acquired Onyx Payments with a commitment to provide the financial strength to be the best in class payment and commission reconciliation processor.
Onyx facilitates in excess of $500 million in payments annually, with more than 40,000 hotels contracted, servicing more than 200,000 travel distributors in nearly 200 countries.
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