Apollo Global Management-backed Ingenico to acquire Phos.

Apollo Global Management-backed Ingenico, a provider in payments acceptance solutions, agreed to acquire Phos, a player in the fast-evolving SoftPoS space, providing flexible solutions to a large number of acquirers and PSPs. Financial terms were not disclosed. "Our clients and partners around the world have clearly identified SoftPoS as one of the biggest opportunities they see right now. They consider SoftPoS a strategic option to engage with new customer segments and develop and test innovative use cases at scale, with minimum incremental investments in technology and distribution. They are looking to Ingenico, as their trusted partner in payments acceptance, to help them do that. We are very excited to bring this high-quality opportunity to our valued customers by partnering with the talented teams at Phos." Giulio Montemagno, Ingenico General Manager of PPaaS.