M&A Deal Summary

Payroc Acquires i3 Verticals - Merchant of Record Payments Business

On June 26, 2024, Payroc acquired information technology company i3 Verticals - Merchant of Record Payments Business from i3 Verticals for 440M USD

Acquisition Highlights
  • This is Payroc’s 6th transaction in the Information Technology sector.
  • This is Payroc’s largest (disclosed) transaction.
  • This is Payroc’s 16th transaction in the United States.

M&A Deal Summary
Date 2024-06-26
Target i3 Verticals - Merchant of Record Payments Business
Sector Information Technology
Buyer(s) Payroc
Sellers(s) i3 Verticals
Deal Type Divestiture
Deal Value 440M USD

Target

i3 Verticals - Merchant of Record Payments Business

United States
i3 Verticals' Merchant of Record Payments Business is provider of merchant services and payments software and technology solutions.

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Buyer(S) 1

Buyer

Payroc

Tinley Park, Illinois, United States
Category Company
Founded 2003
Sector Internet Software and Services
DESCRIPTION

Payroc LLC is a provider of an online platform for merchants with anytime, anywhere payment solutions. The company transparent pricing clarity and developing personal relationships while delivering exceptional technology. Payroc services and supports more than 10,000 merchants throughout North America, providing stability in payments by safely and securely processing over $3 billion in annual charge volume.

DEAL STATS #
Overall 18 of 18
Sector (Information Technology) 6 of 6
Type (Divestiture) 1 of 1
Country (United States) 16 of 16
Year (2024) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-06 SterlingCard

Markham, Ontario, Canada

SterlingCard is a payment solution provider for both retail and e-commerce applications, offering customers the latest technology while maintaining a service-oriented focus. SterlingCard was founded in 1996 and is based in Markham Ontario.

Buy -

Seller(S) 1

SELLER

i3 Verticals

Nashville, Tennessee, United States
Category Company
Founded 2012
Sector Information Technology
Employees1,663
Revenue 370M USD (2023)
DESCRIPTION

i3 Verticals is a technology and integrated payments provider for a range of industry verticals throughout the United States. i3 Verticals was founded in 2012 and is based in Nashville, Tennessee.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-06 AccuFund

Castle Rock, Colorado, United States

AccuFund is a provider of fund accounting solutions for government entities and nonprofits in the United States. The company's complete fund accounting financial management solution is available online or onsite that consists of a strong core system and modules to allow clients in expanding their needs. AccuFund was formed in 2001 and is based in Castle Rock, Colorado.

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