(Ping! Zine Web Tech Magazine) – Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, announced today that it has completed its acquisition of Mercury Payment Systems, LLC from Silver Lake. Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Vantiv paid approximately $1.65 billion in cash to acquire Mercury.
“Today represents a major milestone in Vantiv’s strategic growth and expansion,” said Charles Drucker, chief executive officer of Vantiv. “Bringing together the strengths of our respective companies will dramatically enhance our distribution and technology capabilities to serve a number of large and growing industry verticals. We are pleased to welcome Mercury’s impressive team, their channel partners and their valued customers to the Vantiv family.”
Vantiv’s acquisition of Mercury and its prior acquisition of Element Payment Services are in alignment with the company’s strategic objective to strengthen and expand high-growth channels. The acquisition will increase the company’s ability to provide an expanded set of payments solutions, including online and omni-channel commerce capabilities, to Mercury’s roster of technology partners and dealers. Matt Taylor, chief executive officer of Mercury, and the Mercury management team will remain with the company, which will maintain its locations in Durango and Denver, Colo.
About Vantiv, Inc.
Vantiv, Inc. (NYSE: VNTV) is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company’s growth strategy includes expanding further into high growth payment segments, such as integrated payments, payment facilitation (PayFacTM), mobile, prepaid and information solutions, and attractive industry verticals such as business-to-business, ecommerce, healthcare, gaming, government and education. For more information, visit www.vantiv.com.
Director, Corporate Communications
Senior Vice President, Investor Relations
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