Global Payments Nabs California ISO for $420 Million
Jan. 27, 2014
Atlanta-based payment processor Global Payments on Friday revealed it has agreed to acquire California ISO PayPros for $420 million. With the acquisition, Global Payments now has access to PayPros’ 58,000 mostly small and midsized merchant customers and a new distribution network, according to Jeffrey Sloan, CEO of Global Payments.
“Our acquisition of PayPros,” said Sloan, “will expand our direct distribution, add new vertical markets, accelerate growth in our largest geography and further enhance our existing integrated solutions business with the addition of PayPros’ talented team.”
The companies expect the acquisition to close by the end of Global Payments’ fiscal year on May 31.