News

Elavon acquires CenPOS, uniting payment processing, software solutions

January 10, 2019

Elavon, a global payments provider and subsidiary of U.S. Bancorp, has acquired CenPOS, a Miami-based provider of integrated payment software solutions to large enterprises.

CenPOS focuses on three industry verticals — automotive; travel and entertainment; and general business-to-business transactions — that align well with Elavon’s strengths and will provide even greater scale and payments capabilities, the company said in a press release.

“More and more, businesses are choosing their payment provider based on the software solutions they use to manage other parts of their operations,” Elavon CEO Jamie Walker said in the release. “With this acquisition, customers of both companies will benefit from the strengths and opportunities these organizations offer in important industry segments.”

“Elavon’s suite of payment products, coupled with the stability and array of financial offerings from U.S. Bank, gives CenPOS an unparalleled competitive edge in the market,” said CenPOS cofounder and CEO Jorge Fernandez. “Likewise, CenPOS’s technology brings new market expertise to Elavon’s current technology solutions.”

The acquisition closed on January 8, 2019. Financial terms of the deal were not disclosed.