ScanSource, which targets midsize and enterprise-level corporations, sees an opportunity to deliver a comprehensive set of payment solutions through the two companies’ reach with little overlap of existing customers, according to a Thursday press release.
POS Portal has deep relationships that will help drive business for ScanSource, and POS Portal will benefit from ScanSource’s broader range of payment technology, Mike Baur, ScanSource’s CEO, said in the release.
“ScanSource has been following our growth and strategy for a few years and saw the opportunity to expand to our business model,” added Buzz Stryker, co-founder and CEO of Sacramento, Calif.-based POS Portal.
Stryker and his team will join ScanSource, and POS Portal will become part of the Worldwide Barcode, Networking and Security segment of ScanSource, based in Greenville, S.C.
The all-cash deal is expected to close in September 2017.