Vantiv Completes Acquisition of Mercury Payment Systems
Vantiv, Inc. has completed its acquisition of Mercury Payment Systems, LLC from Silver Lake. Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Vantiv paid approximately $1.65 billion in cash to acquire Mercury.
"Today represents a major milestone in Vantiv's strategic growth and expansion," said Charles Drucker, chief executive officer of Vantiv. "Bringing together the strengths of our respective companies will dramatically enhance our distribution and technology capabilities to serve a number of large and growing industry verticals. We are pleased to welcome Mercury's impressive team, their channel partners and their valued customers to the Vantiv family."
Vantiv's acquisition of Mercury and its prior acquisition of Element Payment Services are in alignment with the company's strategic objective to strengthen and expand high-growth channels. The acquisition will increase the company's ability to provide an expanded set of payments solutions, including online and omni-channel commerce capabilities, to Mercury's roster of technology partners and dealers. Matt Taylor, chief executive officer of Mercury, and the Mercury management team will remain with the company, which will maintain its locations in Durango and Denver, Colo.
"Today represents a major milestone in Vantiv's strategic growth and expansion," said Charles Drucker, chief executive officer of Vantiv. "Bringing together the strengths of our respective companies will dramatically enhance our distribution and technology capabilities to serve a number of large and growing industry verticals. We are pleased to welcome Mercury's impressive team, their channel partners and their valued customers to the Vantiv family."
Vantiv's acquisition of Mercury and its prior acquisition of Element Payment Services are in alignment with the company's strategic objective to strengthen and expand high-growth channels. The acquisition will increase the company's ability to provide an expanded set of payments solutions, including online and omni-channel commerce capabilities, to Mercury's roster of technology partners and dealers. Matt Taylor, chief executive officer of Mercury, and the Mercury management team will remain with the company, which will maintain its locations in Durango and Denver, Colo.