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06/01/2010 -
Pivotal Payments, a leading North American merchant services provider, announced this week that it has completed the acquisitions of Vision Bankcard's POS Card Systems and National Credit Card Processing divisions. This acquisition will add 30 independent sales agents and 120 agent bank branches to Pivotal Payments' sales channels, and will bring the company's portfolio to more than 40,000 merchants in Canada and the U.S. The company will maintain the acquired divisions' offices in Redwood City, California and Novi, Michigan.
"Pivotal is pleased to end the year on this positive note," said Philip Fayer, president and CEO of Pivotal Payments. "This acquisition will add to our strong organic growth and will increase our presence in the U.S."
Pivotal Payments has now had six acquisitions to date, and processes more than $7 billion in annual volume. Acquisition financing was provided by Goldman Sachs, the merchant services provider's primary financial partner.
The company focuses on providing merchant services to small and midsize retailers, restaurants, franchises, dealerships and merchants.
Pivotal Payments was also named as a finalist for Canada's 50 Best Managed Companies award, the company recently announced.
