Clarus Merchant Services Acquires Payment Processing Assets from ANARAQ

Clarus Merchant Services has agreed to acquire the merchant processing
assets of ANARAQ Holdings, LLC, a New York based financial technology
company specializing in the electronic payment processing industry.
ANARAQ Holdings, LLC is a portfolio company of Altpoint Capital
Partners. “ANARAQ has grown significantly both organically and through
acquisitions under Altpoint’s ownership since its founding in 2012. As
the electronic payment processing sector continues to evolve, we believe
that a partner such as Clarus will bring the technology offerings, scale
and geographic reach to efficiently continue to grow the ANARAQ merchant
portfolio assets,” said Andrew Grapkowski, Partner & Managing Director
at Altpoint Capital and Chairman of the Board of ANARAQ. John Wu,
Founder and CEO of ANARAQ, added, “We have been very pleased with
ANARAQ’s growth under our management and ownership. We couldn’t have
found a better fit in Clarus. We have full confidence that Clarus will
continue to build upon the quality electronic payment processing
platform that ANARAQ has successfully developed and nurtured since its
founding.” ANARAQ was advised exclusively by Preston
Todd Advisors
, a boutique M&A advisory firm specializing in FinTech
and payments. The financial terms of the transaction were not disclosed.

About Altpoint Capital Partners:

Altpoint Capital Partners (www.Altpointcapital.com)
is a New York-based, middle-market private equity firm that makes
substantial equity investments in established enterprises with the
potential for significant growth and operating profit improvement. The
firm targets growth oriented investments in sectors where the firm has
prior experience and relationships, including financial services,
technology, telecommunications, industrial, energy and business services.

About ANARAQ

ANARAQ (www.ANARAQ.com)
is a payments technology company and payment processing industry
acquisition platform serving as a growth capital partner for ISO groups
and companies focused on payment technologies.

About Clarus Merchant Services:

Clarus Merchant Services (www.ClarusDC.com),
founded in 1999, is dedicated to providing single-platform execution
with a full suite of integrated future-proof products, value-added
servicing, and in-depth management reporting. Clarus processes over $5
billion per year and boasts one of the industry’s highest client
retention rates.

About Preston Todd Advisors:

Preston Todd Advisors (www.PrestonToddAdvisors.com),
specializes in providing strategic advisory services, including M&A
(buy-side and sell-side), strategy development, and valuation analysis,
to the FinTech (financial technology), payments and software industries.
The firm designs and implements forward looking growth strategies for
companies trying to navigate the ongoing paradigm shift in digital
payments. With over a decade of transactional experience in payments,
payments technology, and integrated payments solutions, Preston Todd
successfully consults for the newest generation of best-in-class
financial technology firms.

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