Electronic invoicing companies Transactis Inc. and Data Impact said Tuesday that they merged operations to better serve billers and banks.
Transactis acquired the assets of Data Impact. The companies did not disclose the financial terms of the deal. Combined, the two count some of the largest North American banks as clients. They handle 200 million invoice pages and $2 billion in processed payments annually.
"By combining Data Impact and Transactis we have created a single comprehensive provider that serves the diverse receivables processing needs of both business-to-consumer and business-to-business" clients, Joe Proto, the chairman and chief executive of Transactis, said in a press release.
The companies plan to continue operating under their respective brands and maintain headquarters in New York with offices in Huntington Beach, Calif.; Dallas and Charlotte, N.C.
Michael Lane, the CEO of Data Impact who will serve as the president of the combined company, said in the press release that the deal allows Transactis and Data Impact to blend their respective specialties in B-to-C and B-to-B payments.
Transactis' products include BillMail, an email billing platform, and BillerExpress, a bill presentment and payment program that it sells to banks and payment processors for use by small and medium-sized treasury clients. Transactis also has coupon and loyalty software programs called OfferIQ and LoyaltyIQ.
Data Impact sells software that automates the accounts receivable process called EIPPPlus.
