Tritium Partners has acquired a majority stake in Giact Systems LLC, an electric payments service.
Giact, headquartered in Allen, Texas, provides verification, authentication and funds confirmation information to a number of financial institutions. This includes lenders, insurance companies, retail and e-commerce merchants, card issuers, payment processors, utilities and housing, government agencies and peer-to-peer payment providers. Terms of the deal weren't disclosed.
With the investment, Giact should be able to add to fraud protection, customer service and partnerships, the company says.Tritium is an Austin, Texas-based private equity firm that focuses on lower middle-market transactions. The firm partnered with the StepStone Group in August to
There have been several payments-related deals recently. In December, mobile payments provider Mozido LLC
