Digital Transactions Authoritative, insightful and timely information for payments professionals
Jack Henry & Associates Inc. has acquired Victor Technologies Inc., a provider of embedded-payment solutions, from MVB Financial Corp. for an undisclosed sum. While terms of the deal were not disclosed, MVB says it expects to see a pre-tax gain of $33 million from the sale.
The acquisition widens an existing relationship between the companies by expanding Jack Henry’s capabilities in the payments-as-a-service market, which is expected to grow to $43.9 billion in revenue by 2029, from $19.1 billion in 2025, according to Research and Markets.
The integration of Victor Technologies’ tech stack into Jack Henry’s processing platform will also enable near real-time reconciliation and reduce the risk of overdrafts for its clients, according to Jack Henry.
Jack Henry, which has already integrated Victor Technologies’ applications into its SilverLake core bank system and JHA PayCenter payment hub for financial institutions, plans to add Victor’s technology to its Symitar credit union and treasury-management platforms. Victor Technologies was founded in 2021 by MVB Bank, which is a Jack Henry client.
In related news, Global Payments Inc. announced it has completed the divestiture of its payroll business to Acrisure LLC, a global financial-technology and insurance-brokerage firm, for $1.1 billion.
The divestiture is part of a plan by Global Payments to streamline its business and become a pure-play commerce-solutions provider for merchants of all sizes, the company says. In December 2024, Global Payments closed on its sale of AdvancedMD, a software-as-a-service-based electronic health record, practice management, and medical billing business for independent health-care practices.
Global Payments announced plans earlier this year to divest its Issuer Solutions business and acquire WorldPay LLC from processor FIS for $22.7 billion.
