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New Deal


Announced

Completed

Fortis completed the acquisition of Payment Logistics.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Single Bidder

Acquisition

Private

Completed

Payments / Commerce

United States

payment processing

Friendly

electronic payments

FinTech

Domestic

Synopsis

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Fortis, a developer of payment processing and merchant solutions, completed the acquisition of Payment Logistics, a developer of electronic payment processing technology platform. Financial terms weer not disclosed. "We started Payment Logistics 19 years ago with a vision to provide the technology retail and hospitality businesses need for a rapidly evolving electronic payment processing industry. Fortis is growing quickly and investing in innovation, so joining the Fortis team is the logical next step toward realizing our founding vision. I look forward to working with the combined team to accelerate transformation across the market," Dustin Niglio, Payment Logistics Founder.

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