Repay to acquire CPS Payment Services for c.$93m.

Repay, a provider of vertically-integrated payment solutions, agreed to acquire CPS Payment Services, a payment services provider, for c.$93m, of which $78m will be paid at closing. “There continues to be increased demand for comprehensive, technology-first B2B automation and payment solutions, as enterprise customers look to reduce costs and operate more efficiently in an increasingly digital environment. With their expanding sales channels, proprietary payment portal, integration capabilities and growing client base, CPS will substantially enhance Repay’s comprehensive B2B offering. This acquisition will bring us the opportunity to introduce Repay’s solutions to new verticals, including education, government, and media sectors,” John Morris, Repay CEO.