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Shoreview s Deluxe buying Texas-based payment processing company for $960M The acquisition will be the largest in Deluxe s history. April 22, 2021 8:29am Text size Copy shortlink:
Deluxe will spend $960 million to purchase Texas-based First American Payment System, allowing the Shoreview company to expand further into merchant services.
Deluxe is in the middle of a transformation from a company that makes checks to small-business services firm. The acquisition announced Thursday would be the largest in the company s 106-year history. This is a major, logical and responsible next step in our transformation, said Barry McCarthy, Deluxe s chief executive. With electronic payments playing an increasingly important role across the economy, the addition of First American s independent, leading payments platform will advance our One Deluxe [transformation] strategy and our overall growth trajectory.