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M&A activity within the payments industry slows down this past couple weeks as we near the end of January. At this time in the year, many companies are preparing their quarterly and year-end financial reporting for public release, which we can expect to see throughout the coming weeks. While M&A announcements were scarce this past couple weeks for public firms, there was one payments acquisition of note within the private sector. Last week Avenu Insights & Analytics announced their agreement to acquire the cloud-based payments provider Interware Development Company for an undisclosed sum. Interware complements Avenu’s existing product suite as the two firms cater their solutions for state and local governments. With this acquisition, Avenu will be able to provide a new centralized payment platform that accompanies their software solutions used by both citizens and government entities.
In other M&A news, Billtrust’s new CEO, Sunil Rajasekar, has shown interest in pursing M&A opportunities as a means to accelerate the company’s growth and expand their product offerings. Billtrust, which was recently purchased by EQT Private Equity for $1.7 billion, aims to grow their annual revenue from $200 million to $500 million as the B2B payments market continues its strong growth trajectory.
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