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Celero Commerce made its second acquisition in a month with its deal to acquire Omega Technology, a Fort Thomas, Ky.-based payments provider.
Nashville, Tenn.-based Celero says the combined company will process payments for more than 50,000 merchants at approximately $20 billion in annual card volume. Celero acquired Everest Payment Solutions in December. Celero says Omega—the deal was announced Tuesday—is its eighth acquisition since its launch in 2018. Terms of the deal were not released.
“Joining forces with Celero means that we can deliver greater value for all stakeholders through technology, financial resources, and human capital,” Todd McHugh, Omega president and chief executive, says in a statement.
Indeed, Kevin Jones, Celero founder and chief executive, said the two companies fit well together. Omega’s products and services tie in directly with Celero’s objective of providing community banks with technology and payments services to compete against fintechs, he says. “We want to enable banks to lead, not just keep up,” Jones tells Digital Transactions News.
Omega also brings a strong presence in the Midwest and a new platform and technology that will enhance Celero’s precertification VAR and software offering, Jones says. VARs are value added resellers of point-of-sale software systems. “Having multiple platforms enables us to have precertification to tons of vertical software,” Jones adds.
As for the Omega name, it will eventually be superseded by the Celero brand. The Omega staff joined Celero’s team today, Jones says, adding, “We see this as a big growth opportunity.”
