This week proved to be an eventful week in M&A activity as numerous deals were announced throughout the industry. To start, NMI announced their acquisition of IRIS CRM for an undisclosed sum. With the addition of IRIS CRM, NMI is better positioning and enhancing their processes for onboarding and management systems for their channel partners and merchants. This deal enables NMI to further grow their product services through the addition of merchant prospecting and direct-to-processor onboarding capabilities. Separately, Celero Commerce disclosed their deal to acquire OMEGA Technology for an undisclosed sum. Following this deal, Celero will serve more than 50,000 merchants that collectively process approximately $20 billion in annual card volume. This deal marks Celero’s second in the past month and the company’s eighth since their launch in 2018.
In other M&A news, Paya announced their acquisition of VelocIT, an omnichannel payment solution provider for accounting and ERP platforms. This acquisition enables Paya to accelerate their integrated payments strategy across new and existing software partners. Unconnectedly, Plaid has acquired the identity verification and anti-fraud solution platform, Cognito, for approximately $250 million. This deal aligns with Plaid’s strategy of streamlining account-to-account communication and verification across financial institutions and consumers.