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M&A activity heats up this week with the announcements of several notable transactions. To start, FortisPay has announced their acquisitions of EpicPay and Change Merchant Solutions for an undisclosed sum. FortisPay is anticipating these new acquisitions will allow them to further expand into additional markets through new ISV channels while also bringing significant volume to their platform. With these acquisitions, FortisPay is also seeking to rapidly grow their payment gateway, Zeamster, through the combination of the EpicPay Platform as well as through leveraging Change Merchant Solution’s existing ISV channels. These two acquisitions will add more than $3 billion in annual payment volume for FortisPay as they continue to pursue growth in key markets, including nonprofit and hospitality.
In other M&A news, GreenBox POS announced on Tuesday (May 25th) their acquisition of Northeast Merchant Services. As the name implies, Northeast Merchant Services is an ISO focused on the Northeast region of the U.S. serving more than 700 retail merchants. GreenBox will pay $2.5 million in cash with another half a million in potential earn-out over a one-year basis. Separately, Sift announced their definitive agreement to acquire Chargeback as they seek to expand their offerings of fraud prevention and chargeback management.