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Payment technology provider Electronic Merchant Systems acquired PaymentCloud, an Encino, Calif.-based payment gateway provider.
The acquisition will enable PaymentCloud to expand its merchant base while utilizing EMS’s technology services. The deal also solidifies the existing relationship between the two companies and positions Cleveland-based EMS to leverage PaymentCloud’s marketing and sales channels to accelerate the expansion of its own inside sales channels, EMS says. Terms of the deal were not disclosed.
PaymentCloud cofounder Shawn Silver becomes EMS chief revenue officer and Neal Hoffman, cofounder, will serve as EMS chief marketing officer.
“We are now very well positioned to utilize the strength of the PaymentCloud marketing and sales channels to further scale both companies. PaymentCloud has been a longtime partner to EMS and Shawn has proven to be a visionary in this industry,” EMS chairman Jim Weiland says in a statement.
In related news, Blackhawk Network Inc. announced Wednesday it will acquire Tango Card Inc., a business-to-business gift card platform provider, for an undisclosed sum. The deal is expected to close later this year.
The acquisition will enable Blackhawk Network’s customers to offer B2B incentives to their customers. The Blackhawk Network has more than 400,000 consumer touchpoints, the company says.
“Tango pioneered the digital-first reward experience through its powerful API, coupled with world-class service and exceptional breadth of global content, making it the perfect complement to BHN’s global product portfolio,” Blackhawk Network chief executive and president Talbott Roche says in a statement. Pleasanton, Calif.-based Blackhawk had an existing partnership with Tango and was an early investor in it.
