The processor Global Payments Inc. has agreed to acquire Payment Processing Inc. (PayPros), a company that serves mostly smaller merchants.
Global Payments will pay $420 million in cash to purchase PayPros, and the companies expect the transaction to close by June, pending regulatory approvals.
PayPros sells through a network of more than 1,000 enterprise software partners that serve about 58,000 small to medium sized merchants with a focus on industries that are complementary to those Global Payments has served since its
"Our acquisition of PayPros will expand our direct distribution [and] add new vertical markets," says Jeffrey Sloan, Global Payments CEO, in a Jan. 24 press release.
