Heartland Payment Systems has acquired Xpient Solutions to strengthen its processing capabilities in the quick-service and fast-casual food industry.
Princeton, N.J.-based Heartland did not disclose financial terms of the deal that brings Xpient's enterprise-level point of sale software into Heartland's technology offerings.
Xpient provides technology to 11 of the top 25 quick-service restaurants, including Taco Bell, Jack in the Box, Panera Bread and Panda Express, Heartland said in a Nov. 10 press release.
Xpient has more than 25,000 installed locations and processes more than $15 billion in annual credit/debit card volume for large merchants, Heartland said.
The acquisition allows Heartland to guide its restaurant clients through technology advancements, while also adding Heartland's security measures to Xpient processes, Heartland CEO and chairman Bob Carr said in the release.
"Heartland acts as a trusted advisor to our restaurant customers to help them enjoy technology-enabled growth, Carr said. Integrating Xpient into the Heartland organization allows us to bring the benefits of a sophisticated system for large operators to our small and mid-sized restaurant customers."
Heartland will add Heartland Secure to the Xpient process, sharing the company's card-data security service that combines EMV, tokenization and end-to-end encryption for merchants.
The acquisition comes just three months after Heartland strengthened its point-of-sale capabilities for smaller merchants or those, such as in the fast-food industry, that would benefit from a mobile POS.
In August of 2014, Heartland purchased its remaining minority interest in mobile point-of-sale vendor Leaf to complete the acquisition of that company after making an initial $20 million investment a year earlier.
That acquisition provided Heartland with an option for a point-of-sale tablet, called LeafPresenter, which includes a mobile card reader.
Heartland said it plans to keep the leadership team of Charlotte, N.C.-based Xpient Solutions in place.