EVO Payments International, a card payment acquirer and payment service provider, has acquired Sterling Payment Technologies, a Tampa, Florida based provider of integrated payment solutions.
EVO expects the acquisition to enhance its existing integrated payments offering and further extend its distribution capabilities in the integrated payments space.
Post acquisition, Sterling president and CEO Paul Hunter will continue managing the Sterling team, which will be responsible for EVO’s overall US integrated solutions offerings and will operate under the Sterling Payment Technologies brand.
Hunter will also take on additional responsibilities of leading EVO’s overall integrated payments strategy. He will become a member of EVO’s executive leadership team.
James Kelly, chief executive of EVO, said: “The acquisition of Sterling accelerates further EVO’s growth in the integrated solutions market, strengthening our existing integrated solutions business with the addition of Sterling’s products, sales network and talented management team.
“With a focus on innovation and service, the combined companies will work together to provide POS dealers, resellers, developers and merchants with the most advanced payment solutions in the market. In addition, connecting Sterling to our global processing infrastructure enables us to seamlessly export Sterling’s product capabilities to our international markets. Importantly, we can also support Sterling’s existing partners by providing them with opportunities to expand outside of the U.S. I am delighted to welcome Paul Hunter and his team to the EVO organization.”
Hunter said: “The acquisition enables Sterling to offer our partners in-house processing and greater sales distribution opportunities, while continuing to provide the high level of customer service they have come to expect. The combination of our two companies will enable greater control over the delivery of services and solutions to our existing and future customers.”