This week, Bottomline Technologies, Fifth Third Bancorp, and Payment Processing Inc. were all buying.
Bottomline Technologies said Jan. 24 that it’s buying UK-based Tranmit Plc, which has a Web-based, purchase-to-pay product line, for about $9 million in cash and stock. Bottomline’s stock rose about a dime on the news, announced a day prior to its earnings release. (Contact: Bottomline Technologies, 603-501-5240)
Fifth Third Bancorp says its Fifth third Processing Solutions unit bought Card Management Corp. (CMC), a payment card service provider. CMC will continue to operate under their name and in its existing offices. Terms were not disclosed. Fifth Third has been growing its payments processing operations the past several years. (Contact: Fifth Third Bancorp, (513-534-4153)
Payment Processing, Inc. bought most of the assets of Canada’s Paradata Systems, a software development and transaction processing company, on Jan. 6. The price was undisclosed. Payment Processing will be incorporating Paradata’s payment system into its payment gateway. Shannon Byrne, Paradata’s CEO, will be staying on to lead the the development team that will be going over to Payment Processing. (Contact: Payment Processing, Inc., 510-795-4989)