Expands and strengthens Paya’s robust integrated payments capabilities
Paya Holdings Inc., a leading integrated payments and commerce solution provider, announced the acquisition of VelocIT Business Solutions.
Founded in 2018 and based in Clarkson, WA, VelocIT provides fully integrated, omnichannel payment solutions to accounting and ERP partners, including Acumatica and Sage, driving frictionless commerce experiences for their end users. VelocIT brings to Paya industry-leading technologies, deep knowledge of the ERP market, and strong integration experience and expertise.
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“We are excited to welcome the VelocIT team to Paya as we look to expand and accelerate Paya’s growth within the ERP channel,” said Jeff Hack, Paya’s chief executive officer. “VelocIT brings a great roster of ERP partners, leading technological capabilities, and key talent which will enrich the value of our offerings while providing for continued growth within B2B and across key verticals we serve.”
Through the acquisition of VelocIT, Paya will accelerate its product roadmap, scaling the company’s solution capabilities and extending its leadership in accounting and ERP integrations.
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“Paya is committed to delivering innovative, integrated payment solutions and driving exceptional commerce experiences,” said Michele Shepard, Paya’s chief commercial officer. “With their technology platform, partnerships, and ERP domain expertise, the acquisition of VelocIT strengthens Paya’s ability to fulfill that commitment.”
“We are thrilled to join the Paya family,” said Jeremy Burt, CEO of VelocIT. “Paya is a highly regarded leader in the payments market and in the ERP space in particular, and joining forces with Paya will enable us to scale our R&D efforts and distribution to entirely new levels. We look forward to the next chapter in the VelocIT journey.”
Paya expects to discuss the transaction further on its fourth quarter and full year 2021 results conference call.
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