Vantiv Inc. announces $1.65 billion acquisition of Colorado payment processing firm
CINCINNATI - Vantiv Inc. is already one of the nation's fastest-growing technology companies. Now, it's looking to accelerate that growth with a $1.65 billion acquisition.
The Symmes Township-based payment processing company has agreed to acquire Mercury Payment Systems of Durango, Colo. The deal is expected to increase Vantiv's revenue growth by one to two percentage points annually.
Mercury generated 2013 revenue of $237 million with earnings before taxes, interest and depreciation of $93 million. Vantiv expects the acquisition to be "modestly accretive" to earnings in 2014.
Vantiv said the Mercury acquisition improves its ability to provide "an expanded set of payments solutions, such as online and omni-channel commerce, to technology partners and dealers. Mercury further expands Vantiv’s reach into the small and medium-sized business segment."
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