Fortis, which claims to be the leader in embedded payments for software providers, announced the company is “expanding its suite of technology solutions by acquiring Payment Logistics, a payment technology company based in La Jolla, California.”
Payment Logistics “not only brings dozens of embedded payments partnerships but a myriad of cutting-edge solutions and a highly experienced team to the Fortis family.”
Founded in 2003 to provide reliable and secure payment technologies, Payment Logistics has a large breadth of partnerships that “process a significant volume of transactions across thousands of businesses on an annual basis.” The team has “created partnerships with leading developers, software providers and value-added resellers (VARs) to overcome payment integration challenges and deliver strategies that maximize the return on investment in commerce solutions.”
Payment Logistics founder, Dustin Niglio, “will continue to lead the La Jolla team as part of the Fortis family.”
Niglio said:
“We started Payment Logistics 19 years ago with a vision to provide the technology retail and hospitality businesses need for a rapidly evolving electronic payment processing industry. Fortis is growing quickly and investing in innovation, so joining the Fortis team is the logical next step toward realizing our founding vision. I look forward to working with the combined team to accelerate transformation across the market.”
The teams will work quickly to “unify the two platforms, expanding offerings for all clients and partners while continuing to deliver the high-quality segment specific experiences that both organizations are known for, further solidifying Fortis’ position as the leader in embedded payments for software providers in North America.”
As part of Fortis, the La Jolla based team will “continue to innovate and offer payment solutions tailored to the specialty retail and hospitality markets with the power of Fortis’ enablement, payment facilitation and engagement engine.”
Fortis CEO Greg Cohen remarked:
“Dustin and his team are one of the most innovative groups we’ve worked with to date, and we’re excited about what we can do as a combined force. The amazing relationships, unparalleled technologies and creative innovations the Payment Logistics team has built are a win for all of us. This acquisition strengthens our existing tools and infrastructure at Fortis, enabling us to amplify our tech stack for software partners and extend our suite of popular integrations for businesses. Additionally, it improves our ability to enhance the merchant and customer experience with embedded payments.”
With a growing product portfolio and market reach, Fortis claims it is quickly “becoming the payment solution of choice for software companies and business leaders who want to make commerce a competitive advantage.” This latest acquisition will “provide all of Fortis partners and clients with a new array of embedded payment options.”
Leonis Partners, an advisory firm with expertise in guiding entrepreneur-led technology firms, served “as strategic advisor to Payment Logistics for the transaction.”
Fortis partnered with Morgan Lewis for “legal advisement.”