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TransactionWatch – Week of April 4th – April 8th

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M&A momentum pursues within the payments industry as we head into the second quarter of the year. To kick things off, Payroc announced this week their acquisition of Iroquois Merchant Services, a Tennessee-based Elavon ISO that focuses on the local government and non-profit market verticals. Iroquois has established a network of more than 100 referral partners, which has helped allow them to grow their presence across all 50 states. In addition, Iroquois has processed for over 10,000 clients and handles approximately $2 billion in annual volume. As this transaction closes, Payroc plans to expand Iroquois’s presence beyond the U.S. as well as increase its focus towards integrated payments within ISVs. Separately, the private equity group Advent International announced it has acquired a majority stake in MangoPay, a European end-to-end payments solution provider for online marketplaces. As part of this deal, Crédit Mutuel Arkéa, a France-based banking group, will remain a minority shareholder.

In other M&A news, Mastercard has completed their acquisition of Dynamic Yield, a personalization platform and decision engine, from McDonald’s. This transaction was initially announced in December of 2021 for an undisclosed sum.