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After a more than 10-year relationship with MerchantPro Express LLC, processor and banking-services provider Fiserv Inc. is bringing the Melville, N.Y.-based firm in house with an acquisition of the independent sales organization.
Announced Tuesday, the deal sees the long-time partner—likely with First Data Corp., which Fiserv bought last year—acquired as a way to expand the Fiserv merchant-services business and expand its partner-based distribution channel, Fiserv says.
“MerchantPro Express has been a key Fiserv distribution partner since 2009,” Devin McGranahan, Fiserv senior group president, Global Business Solutions, said in a statement. “By combining our solutions and expertise under one roof we will be able to expand and speed the delivery of new and innovative solutions.”
Terms were not disclosed.
In related news, RevSpring Inc., a provider of collections-support services for health-care firms and other companies, announced Tuesday the acquisition of Loyale Healthcare, which specializes in managing patient financial plans. RevSpring, which is a portfolio company of private-equity firm GTCR LLC, says the combined companies will facilitate approximately $5.5 billion in payments collected for their clients.
“Bringing the Loyale organization together with the RevSpring team, we believe the customers of the combined organization will realize an even greater ability to connect patients with the right payment options to increase payment performance,” Steve Callis, RevSpring president, said in a statement. Terms were not disclosed.
