IVI Checkmate Corp. of Toronto and Atlanta said it has completed the purchase of Debitek Holding Ltd. of Chattanooga, Tenn., for $5 million in stock.

The acquiree's principal subsidiary, Debitek Inc., is a leading supplier of cashless payment systems for universities, public libraries, laundries, correctional institutions, and other closed systems using both magnetic stripe and chip technologies.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.