U.S. Markets closed

Vantiv completes $361M buyout of Litle & Co.

CINCINNATI (AP) -- Vantiv Inc. said Monday that it completed its acquisition of fellow payments processor Litle & Co. for $361 million in cash.

Litle provides payment processing services for companies that sell goods and services to consumers online and through direct response marketing. Its customers include Overstock.com, Ancestry.com, Gilt Groupe and Wayfair.com.

The deal was announced Oct. 31.

Cincinnati-based Vantiv said the addition of Litle will boost its e-commerce capabilities and expand and diversify its customer base of online merchants. The company will operate as a Vantiv subsidiary and remain based in Lowell, Mass.

Vantiv said it used $50 million from its existing revolving credit facility to help fund the acquisition. 

Vantiv shares fell $1.23, or 5.7 percent, to $20.44 in morning trading.