Elavon Acquires Virginia-Based Electronic Transaction Systems
September 04 2018 - 9:00AM
Business Wire
New addition will further enhance Elavon’s
integrated payments capabilities
Elavon, global merchant payment processing provider and
subsidiary of Minneapolis-based U.S. Bancorp, has acquired
Electronic Transaction Systems (ETS), a financial technology
company based in Virginia. The acquisition will allow Elavon to
integrate payment processing into ETS’ software, and provide
businesses a safe and easy way to access Elavon’s services.
Increasingly, business owners expect that the software packages
they use to run their businesses will come with payments acceptance
and processing embedded in the software offering. Elavon is paving
a way to future growth by integrating with these software
packages.
“ETS has an innovative approach to merchant payments that fits
well within Elavon’s strategy to provide businesses the ability to
safely and quickly integrate into our system,” said Jamie Walker,
CEO of Elavon. “ETS is a successful, dynamic company, and we look
forward to growing our business together.”
“We are thrilled to join with Elavon and become part of U.S.
Bank,” said Ed Vaughan, CEO of ETS. “We have worked with U.S. Bank
for the 20 years that we’ve been growing our company. There was
simply no better choice than U.S. Bank, who knows us and shares our
vision for the future.”
“The acquisition of ETS is part of our investment aimed at
enhancing Elavon’s eCommerce offering and integrating Elavon’s
payments capabilities into software its customers already use,”
said Terrance Dolan, vice chairman and CFO of U.S. Bank.
Financial terms of the deal were not disclosed.
About U.S. BankU.S. Bancorp (NYSE: USB), with 74,000
employees and $461 billion in assets as of June 30, 2018, is the
parent company of U.S. Bank, the fifth-largest commercial bank in
the United States. The Minneapolis-based bank blends its
relationship teams, branches and ATM network with mobile and online
tools that allow customers to bank how, when and where they prefer.
U.S. Bank is committed to serving its millions of retail, business,
wealth management, payment, commercial and corporate, and
investment services customers across the country and around the
world as a trusted financial partner, a commitment recognized by
the Ethisphere Institute naming the bank a 2018 World’s Most
Ethical Company. Visit U.S. Bank and Elavon online or follow on
social media to stay up to date with company news.
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version on businesswire.com: https://www.businesswire.com/news/home/20180904005131/en/
Molly Snyder, U.S. Bank Public Affairs &
Communicationsmolly.snyder@usbank.com, 612.303.0746orJennifer A.
Thompson, U.S. Bancorp Investor Relationsjen.thompson@usbank.com,
612.303.0778
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