Payment processor i3 Verticals sells merchant services division to Payroc WorldAccess for $438M in cash.

Payment processor i3 Verticals has sold its merchant services division to Payroc WorldAccess for approximately $438 million in cash. Following the acquisition, i3 Verticals will concentrate on the public sector and healthcare. Payroc aims to enhance its payment solutions across various regions, now serving around 190,000 merchants. Additionally, i3 Verticals appointed Geoff Smith as CFO, with Clay Whitson taking on the role of Chief Strategy Officer.

September 23, 2024
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