Vantiv Completes Acquisition of Mercury Payment Systems
CINCINNATI and DURANGO, Colo., June 13, 2014 - Vantiv, Inc. (VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, announced today that it has completed its acquisition of Mercury Payment Systems, LLC from Silver Lake. Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Vantiv paid approximately $1.65 billion in cash to acquire Mercury.
"Today represents a major milestone in Vantiv`s strategic growth and expansion," said Charles Drucker, chief executive officer of Vantiv. "Bringing together the strengths of our respective companies will dramatically enhance our distribution and technology capabilities to serve a number of large and growing industry verticals. We are pleased to welcome Mercury`s impressive team, their channel partners and their valued customers to the Vantiv family."
Vantiv`s acquisition of Mercury and its prior acquisition of Element Payment Services are in alignment with the company`s strategic objective to strengthen and expand high-growth channels. The acquisition will increase the company`s ability to provide an expanded set of payments solutions, including online and omni-channel commerce capabilities, to Mercury`s roster of technology partners and dealers. Matt Taylor, chief executive officer of Mercury, and the Mercury management team will remain with the company, which will maintain its locations in Durango and Denver, Colo.
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About Vantiv, Inc.
Vantiv, Inc. (VNTV) is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company`s growth strategy includes expanding further into high growth payment segments, such as integrated payments, payment facilitation (PayFacTM), mobile, prepaid and information solutions, and attractive industry verticals such as business-to-business, ecommerce, healthcare, gaming, government and education. For more information, visit www.vantiv.com.
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Mercury Payment Systems is transforming how small- and medium-sized merchants transact business. Founded in 2001 with a vision to streamline and safeguard commerce and payments, Mercury is now one of the fastest growing payment technology companies in the U.S. and the winner of multiple industry awards. Mercury`s payments technology is integrated into a broad set of point of sale systems, reaching merchants through an extensive partner network of over 3,000 point of sale software developers and value added resellers. Mercury`s customer service and value-added solutions distinguish the company from its competitors and help merchants conduct over $30 billion per year in commerce. For more information, visit www.mercurypay.com or the company`s headquarters in Durango, Colo.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 related to Vantiv, Mercury and the acquisition of Mercury, including the potential benefits of the acquisition. Forward-looking statements involve risks and uncertainties, and actual events or results could differ materially from those discussed. Statements that are not historical facts, including management`s expectations regarding future events and developments, are forward-looking statements and are subject to significant risks and uncertainties. Factors that could cause actual events or results to differ materially from those expressed in or implied by these forward-looking statements include general economic conditions, future performance and integration of acquisitions including Mercury, the ability to keep pace with rapid developments and change in our industry and provide new services to our clients, competition within our industry, reductions in overall consumer, business and government spending, a decline in the use of credit, debit or prepaid cards, failures of our systems or the systems of our third party providers, unauthorized data or security breaches, inability to expand our market share in existing markets or expand into new markets, increased attrition of merchants, independent sales organizations, dealers, developers or referral partners, and the factors discussed under the headings "Risk Factors" and "Management`s Discussion and Analysis of Financial Condition and Results of Operations" in Vantiv`s Annual Report for the year ended December 31, 2013 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2014 and in Vantiv`s other filings made from time to time with the SEC, copies of which may be obtained by visiting the company`s Investor Relations web site at http://investors.vantiv.com/ or the SEC`s web site at (http://www.sec.gov/).
The forward-looking statements included in this press release represent Vantiv`s and Mercury`s views as of the date of this press release. These forward-looking statements should not be relied upon as representing Vantiv`s or Mercury`s views as of any date subsequent to the date of this press release. Neither Vantiv or Mercury undertakes any intention or obligation to publicly update or revise any forward-looking statement to conform the statement to actual results or to changes in expectations, whether as a result of new information, future events or otherwise.
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Source: Vantiv, Inc. via GlobeNewswire