U.K.-based terminal maker Spire Payments has acquired payment application developer Altius Plus, a company it has previously worked with to develop payments and loyalty products.
Altius, of Romania, will operate as Spire Payments Eastern Europe LCC, Spire states in an April 1 press release. Spire did not disclose financial details of its purchase of Altius, which also develops terminal management systems and ticketing software.
Spire plans to incorporate Altius' research and development capabilities in markets Spire already serves in England, Spain, Scotland and China, while also expanding business in the central Eastern European market.
"This acquisition is yet another decisive step in our drive to deliver our global payment strategy and to accelerate our revenue growth in the emerging markets," Kazem Aminaee, CEO and president of Spire Payments, states in the release.
Adding the abilities of Altius to Spire continues a trend the company started a year ago when it
"Altius will further leverage these solutions to offer additional value-added software application development services to cardholders, merchants and payment processors alike," Aminaee adds.
Altius Plus, formed in 2006, has focused on the development of point of sale terminal applications, working in the past on Spire's loyalty and bonus schemes, terminal management systems and client/server architectures.
Altius has a staff of more than 30 people, mostly research and development engineers, Spire says.
Clients of Altius include Euronet, First Data, Global Payments, OpenWay Group, Compass Plus and various Romanian banks.
In November, Spire expanded its global reach by
