Sage Payment Solutions Acquires Small Merchant Portfolio from Heartland Payment Systems
MCLEAN, VA (Feb. 24, 2011)—Sage Payment Solutions, the payments division for Sage North America and a multinational payment processor to more than 155,000 small and midsized businesses (SMBs) and organizations, today announced they have acquired a small portfolio of merchant customers processing on third-party platforms from Heartland Payment Systems, Inc. (NYSE: HPY), the fifth largest payment processor in the U.S.
This merchant portfolio acquisition is Sage Payment Solutions’ fifth in the last 12 months. In addition to organic growth, Sage Payment Solutions is focused on strategic growth through acquisitions of targeted portfolios in specific verticals, such as the automotive, lodging and hospitality markets.
“We look forward to welcoming these merchants to the Sage family and providing them with a high level of service,” said Jamie Kanski, chief financial officer (CFO) for Sage Payment Solutions. “These businesses will benefit from our secure, Payment Card Industry certified Sage Exchange payments platform, which will enable them to integrate payments with their accounting systems; improve cash flow management and forecasting; and reduce both fraud exposure and costs associated with Payment Card Industry compliance costs.”
Terms of the Heartland-Sage transaction are not being disclosed.
About Sage Payment Solutions
Sage Payment Solutions has been providing businesses and organizations with electronic payment systems for more than 20 years. The company allows more than 155,000 merchants to accept multiple forms of payment, including credit and debit cards, electronic checks, Check21, gift and loyalty cards, and automatic recurring payment. Sage Payment Solutions provides a wide range of secure standalone and integrated payment processing solutions, including Sage Exchange, Sage Virtual Terminal Plus, Sage Mobile Payments, and Sage Patient Payments. Based in McLean, Va., Sage Payment Solutions is a division of Sage North America. For more information, please call 800-261-0240 or visit www.sagepayments.com. Follow Sage Payment Solutions on Twitter at www.twitter.com/SagePayments.
About Sage North America
Sage North America is part of The Sage Group plc, a leading global supplier of business management software and services. Sage North America employs 4,000 people and supports 3.1 million small and midsized business customers including approximately 80,000 physicians. The Sage Group plc, formed in 1981, was floated on the London Stock Exchange in 1989 and now employs 13,400 people and supports 6.3 million customers worldwide. For more information, please visit the website at www.sagenorthamerica.com. Follow Sage North America on Facebook, http://www.facebook.com/SageNorthAmerica, and Twitter, http://twitter.com/#!/sagenamerica.
Sage North America
703-793-2700 x 3032
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