For the payments industry, an October surge in acquisitions may be the start of a yearend upswing in activity.
Payments consulting firm The Strawhecker Group counted nine deals in the industry so far this month, a spokesperson for TSG said, making October the second most active month for mergers and acquisitions this year.
And TSG Director Sam Wares said he’s hearing a lot of chatter about upcoming deals. “I’m at a payments conference, Money20/20, right now, and there are so many companies that are here walking the floor to find a deal,” Wares said during a Tuesday interview this week.
Wares expects the October uptick to continue through the end of 2023, with payments companies opening up their wallets and shopping for acquisitions again this quarter.
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