Ares Management-backed Priority Technology Holdings completed the acquisition of Finxera from Stone Point Capital.

Ares Management-backed Priority Technology Holdings, a payments technology company, completed the acquisition of Finxera, a fintech company, from private equity firm Stone Point Capital. Financial terms were not disclosed. "With the completion of the Finxera acquisition, we now have the premier platform to collect, store and send money with a full breadth of payment and virtual banking capabilities. The Priority suite of services is truly unique and differentiated as Priority becomes one of a handful of companies with nationwide money transmitter licensing that allows us to act as a fully licensed custodian of funds for consumers and enterprises," Tom Priore, Priority Chairman and CEO.