Paya Holdings, an integrated payments and commerce solution provider, has announced the acquisition of VelocIT Business Solutions, for undisclosed amount.
Set up in 2018 with its base in Clarkson, Western Australia, VelocIT offers completely integrated, omnichannel payment solutions to accounting and ERP partners, thereby offering frictionless commerce experiences for their end users.
Through this deal, VelocIT brings its technologies, knowledge of the ERP market, and integration experience and expertise, to Paya.
Paya CEO Jeff Hack said: “We are excited to welcome the VelocIT team to Paya as we look to expand and accelerate Paya’s growth within the ERP channel.
“VelocIT brings a great roster of ERP partners, leading technological capabilities, and key talent which will enrich the value of our offerings while providing for continued growth within B2B and across key verticals we serve.”
With this deal, Paya plans to speed up its product roadmap, scale up its solution capabilities and expand its expertise in accounting and ERP integrations.
Paya chief commercial officer Michele Shepard said: “Paya is committed to delivering innovative, integrated payment solutions and driving exceptional commerce experiences.
“With their technology platform, partnerships, and ERP domain expertise, the acquisition of VelocIT strengthens Paya’s ability to fulfill that commitment.”
VelocIT CEO Jeremy Burt said: “We are thrilled to join the Paya family. Paya is a highly regarded leader in the payments market and in the ERP space in particular, and joining forces with Paya will enable us to scale our R&D efforts and distribution to entirely new levels. We look forward to the next chapter in the VelocIT journey.”
Paya expects to discuss the deal further on its Q4 and full year 2021 results conference call.