PRINCETON, NJ--(Marketwire -07/09/12)- Heartland Payment Systems (HPY), one of the nation's largest payments processors, has acquired LunchByte Systems, Inc., a school foodservice back office management and point-of-sale (POS) company led by its NUTRIKIDS® (www.nutrikids.com) solution of menu management, inventory management and POS solutions for K-12 administrators, staff, parents and students.
Following the 2011 acquisitions of four other providers in the K-12 space, the LunchByte Systems acquisition further expands Heartland School Solutions' market-leading position in the K-12 school nutrition and POS technology industry. Heartland School Solutions now serves more than 29,000 K-12 schools across the United States, representing a nearly 30 percent market share.
"This acquisition enhances Heartland School Solutions' robust suite of solutions for K-12 school nutrition programs across the country," said Michael A. Lawler, president - strategic markets group. "We plan to continue the strategic acquisition of premier K-12 service providers to further enable us to offer schools more unique and innovative services to help them streamline foodservice operations, as well as create and deliver best-in-class school nutrition programs."
Heartland School Solutions provides industry-leading child nutrition and payment management solutions to public and private schools throughout the country. These include POS terminals, a secure online payment portal, mobile payment capabilities and integrated vending solutions, as well as a number of back office management features such as free and reduced meal application processing and meal tracking, and inventory management and menu planning that can be integrated with USDA NuMenu nutritional data. Heartland School Solutions also offers SeeMyPlate™, a cutting-edge technology that allows parents to see photos of their children's school meal purchases, enabling parents to monitor school-time meals and to educate their children about nutrition to further empower them to make healthy decisions.
Preston Todd Advisors, a leading buy-side M&A advisory firm specializing in the payments and payments technologies sectors, served as advisor to Heartland Payment Systems in the LunchByte Systems transaction.
For more information, visit www.heartlandschoolsolutions.com.
About Heartland Payment Systems
Heartland Payment Systems, Inc. (HPY), the sixth largest payments processor in the United States, delivers credit/debit/prepaid card processing, loyalty marketing services, payroll and related business solutions to more than 250,000 business locations nationwide. A FORTUNE 1000 company, Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. The company is also a leader in the development of end-to-end encryption technology designed to protect cardholder data, rendering it useless to cybercriminals. For more detailed information, visit www.HeartlandPaymentSystems.com or follow the company on Twitter @HeartlandHPY and Facebook at facebook.com/HeartlandHPY.
This press release contains statements of a forward-looking nature which represent our management's beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including risks and additional factors that are described in the Company's Securities and Exchange Commission filings, including but not limited to the Company's annual report on Form 10-K for the year ended December 31, 2011. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.