Payments technology company Pineapple Payments has acquired the merchant portfolio of Paystri, a payment processing and strategic solutions provider, for an undisclosed sum.

Paystri offers payment acceptance and processing infrastructure solutions.

The company struck a partnership agreement with Pineapple Payments to cater to integrated software vendors (ISVs), merchants and technology companies. The services will be delivered on a go-forward basis.

Pineapple Payments expects the alliance to boost its ISV channel. Meanwhile, Paystri can access its partner’s payments platform, APIs and omni-channel payment tools.

Paystri founder and CEO Jonathan Arst said: “The powerful APIs, in-house integration specialists, and proprietary payments solutions that Paystri now has access to through Pineapple ensures we remain an ally in both payments and technology.

“Partnering with Pineapple isn’t just a win for us. It’s a win for our integrators who can now leverage offerings that weren’t available before.”

Arst will lead Paystri’s operations, business, software and community bank partnerships as well as collaborate with new ISVs.

Pineapple Payments co-founder Jon Halpern said: “The synergy of our two teams working together is tangible. ISVs are important to both Pineapple and Paystri and we’re dedicated to growing the integrated payments space collectively.

“By connecting our technology to their ISV channel, the possibilities of amplifying SasS income are huge.”

Pineapple Payments offers payment processing, technology and acceptance solutions for merchants.

In August last year, the company acquired payments technology provider Transax, which processes more than $1bn in payment volume annually.