skip to main content

TransactionWatch – September 12th – September 22nd

Click here to read TransactionWatch | Subscribe to TransactionWatch

M&A activity within the payments space continues its momentum as we near the end of the third quarter. To kick things off, J.P. Morgan announced last week their agreement to acquire Renovite Technologies for an undisclosed sum. This acquisition allows J.P. Morgan to build out their next-generation merchant acquiring platform, particularly as it relates to cloud capabilities. J.P. Morgan is seeking to enhance their payments infrastructure and accept more payment methods globally, which this acquisition supports. Also announced last week, Bottomline has acquired the AP automation platform, Nexus Systems, for an undisclosed sum. Nexus Systems specializes in real estate and property management industries and will join Bottomline’s Paymode-X B2B payments network following the closing of this deal.

In other M&A news, Banc of California announced their acquisition of Global Payroll Gateway and its wholly owned subsidiary, Deepstack Technologies, for $24 million in cash and stock. With this acquisition, Banc of California is equipped with a proprietary platform for payment processing services. Through the Deepstack subsidiary, the bank will market its merchant services and technology capabilities to its existing clients and software vendors.