Tennessee-based i3 Verticals LLC (formerly known as Charge Payment LLC), a fast-growing technology and payment processing firm, has announced the completion of three additional acquisitions: Ohio-based Infintech, Florida-based Practical Business Solutions and Ohio-based Local Level. With these deals, the company's annualized run rate for payment volume has grown to $7 billion, and has completed nine acquisitions in just two years.
Founded in 2012 and based in Nashville, Tennessee, i3 Verticals is a technology and integrated payment provider for a range of industry verticals throughout the United States.
Greg Daily, Founder and CEO of i3 Verticals, said in a statement that: “We are pleased to report the completion of these three acquisitions”, and also added this: “All three companies are growing in attractive vertical markets, with integrated technological solutions. Infintech has focused on healthcare, nonprofits, chambers of commerce and associations, government/municipalities, and business to business (B2B). PBS has a strong bank channel and serves growing markets for religious organizations, micro breweries and wine clubs. Local Level is a software company serving K-12 schools and will be integrated into complementary products and services offered by our flagship education company, Data Business Systems.”
Ryan Rybolt, founder and CEO of Infintech, said in a statement: “Joining forces with i3 Verticals will provide us the resources and products necessary to execute our aggressive growth strategy in key industry verticals. Over the past 10 years Infintech has established a trusted brand in our community, and we will continue to expand that presence regionally. The merger with i3 Verticals aligns us with a partner who shares a vision to scale our brand nationally and drive further expansion into emerging industry verticals.”
Image Credit: i3 Verticals LLC
Thursday, August 13, 2015
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