Momentum continues as M&A activity maintains resilient through the end of April. To start, Paya announced earlier this week their acquisition of Paragon Payment Solutions, an Arizona-based ISO that focuses on the non-profit and healthcare verticals, complimentary to Paya. Paragon has been a distribution partner with Paya since 2011, and processes approximately $1.5 billion in annual payment volume. With this acquisition, Paya will add an enhanced sales channel and payments platform to their existing business offerings. Paya will discuss further details of this acquisition in May during their first quarter earnings conference.
In other M&A news, Stripe announced this week their acquisition of TaxJar, a cloud-based provider of tax services that has around 23,000 customers today. This marks Stripe’s first acquisition of 2021. TaxJar will be integrated into Stripe’s revenue platform, alongside Stripe Billing and Radar. Similar to Stripe, TaxJar has seen significant growth in recent years and is focused on expanding into new geographies. Financial terms of this deal were not disclosed.