The processor Global Payments Inc. has agreed to acquire Payment Processing Inc. (PayPros), a company that serves mostly smaller merchants.

Global Payments will pay $420 million in cash to purchase PayPros, and the companies expect the transaction to close by June, pending regulatory approvals.

PayPros sells through a network of more than 1,000 enterprise software partners that serve about 58,000 small to medium sized merchants with a focus on industries that are complementary to those Global Payments has served since its 2012 acquisition of Accelerated Payment Technologies, Global Payments says.

"Our acquisition of PayPros will expand our direct distribution [and] add new vertical markets," says Jeffrey Sloan, Global Payments CEO, in a Jan. 24 press release. 

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry