Last week Vantiv, Inc. announced that it had completed its acquisition of the payment technology firm Mercury Payment Systems, LLC. Vantiv paid $1.6 million in cash for the payments company. The move is expected to help Vantiv in its goal to strengthen and expand high-growth channels, according to a company release.
Additionally, the Mercury purchase will increase Vantiv’s ability to provide an expanded set of payments solutions, which will include online and omni-channel commerce capabilities.
Vantiv CEO Charles Drucker said in a statement that the move represented a major milestone for his company’s strategic growth and expansion.
“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,” he said.
Drucker added that Mercury had an impressive team and he was excited to welcome its customers to the Vantiv family.
PYMNTS.com discussed the potential acquisition last May with Drucker and Mercury CEO Matt Taylor. In that interview, Drucker explained how he saw Mercury that had a great system in working with developers and dealers, with integrated payments being a key part of that. In this particular situation, the “stars aligned,” according to Drucker.