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ProfitPoint Inc. sees opportunity for growth through acquisitions in the turbulent economy and has acquired a portfolio of 2,000 merchant accounts from independent sales organization ePayment Consultants, according to ProfitPoint. The companies did not disclose the financial details of the acquisition. "This economy presents a unique opportunity for growth through acquisitions for companies with access to expansion capital. There are more sellers at a time when fewer companies have access to the kind of capital needed to be an active player in the acquisition arena," says Vaden C. Landers, CEO of the Franklin, Tenn.-based provider of gift card, loyalty and merchant services. The addition of Louisville, Ky.-based ePayment's portfolio brings ProfitPoint's merchant accounts to nearly 27,000, according to ProfitPoint. ProfitPoint will not take over the processing of all of the acquired accounts, notes Landers, declining to disclose which portion will. ProfitPoint hopes to reach a processing dollar volume of nearly $1 billion this year, he says.
