Tritium Partners has acquired a majority stake in Giact Systems LLC, an electric payments service.
Giact, headquartered in Allen, Texas, provides verification, authentication and funds confirmation information to a number of financial institutions. This includes lenders, insurance companies, retail and e-commerce merchants, card issuers, payment processors, utilities and housing, government agencies and peer-to-peer payment providers. Terms of the deal weren't disclosed.
With the investment, Giact should be able to add to fraud protection, customer service and partnerships, the company says.Tritium is an Austin, Texas-based private equity firm that focuses on lower middle-market transactions. The firm partnered with the StepStone Group in August to buy a majority stake in e-commerce services provider Access Technology Solutions. The firm has also invested in HomeAway, RetailMeNot and Newgistics.
There have been several payments-related deals recently. In December, mobile payments provider Mozido LLC bought mobile wallet provider CorFire. Before that, in November, Ingo Money, which digitizes check payments, agreed to buy Fuze Network.