EVO Payments Acquires North49 to Deliver B2B Integrated Payments for Sage Users

Rhea-AI Summary

EVO Payments, Inc. (NASDAQ:EVOP) has acquired North49 Business Solutions, a certified Sage Development Partner. This acquisition enhances EVO's B2B integrated payment solutions for Sage customers, expanding its ERP integrations to include Sage 300 and Sage Intacct. North49's customer portal is endorsed by Sage, facilitating streamlined payment workflows. The deal aims to strengthen EVO's market position, enabling the company to attract new partners and merchants within the Sage ecosystem. Financial terms of the transaction were not disclosed.

Positive

• Acquisition of North49 enhances EVO's B2B payment solutions.
• Increases EVO's ERP integrations with Sage software.
• Strengthens partnership potential within the Sage ecosystem.
• Expands customer portal offerings endorsed by Sage.

Negative

• None.

ATLANTA--(BUSINESS WIRE)-- EVO Payments, Inc. (NASDAQ:EVOP) ("EVO" or "the Company"), a leading global provider of payment technology integrations and acquiring solutions, today announced it has acquired North49 Business Solutions, Inc. ("North49"), a certified Sage Development Partner, to provide enhanced B2B integrated payment solutions for Sage customers.

As both a Sage Authorized Partner and Sage Development Partner, North49 provides accounts receivables solutions and business automation tools to allow customers to streamline their payment workflow via certified integrations to the Sage 300 and Sage Intacct solutions. Further, North49’s customer portal is an endorsed solution for Sage 300 and Sage Intacct, with Sage directly distributing the Sage 300 product. This acquisition expands EVO’s existing portfolio of ERP integrations to include Sage accounting software, which will enable the Company to sign new partners and merchants within the Sage ecosystem.

"We are very excited about the acquisition of North49, which will enable us to offer our leading gateway and acquiring services to Sage users and offer a bundled B2B payments solution to customers new to both Sage and EVO," stated Brendan F. Tansill, EVO’s President, the Americas. "North49’s leading Sage integration enhances our existing B2B payment offering, which also includes native API integrations to the Microsoft, Acumatica, Oracle, and SAP systems."

"I am delighted to see our vision for North49 continue under EVO’s ownership," said Rob Eichhorn, CEO and Co-Founder of North49. "EVO is committed to further expanding our relationship with Sage and developing our leading suite of Sage-integrated eCommerce solutions. We look forward to working with our new colleagues at EVO and to expanding the distribution of our proprietary technology across our collective partner network."

Said Etienne Grobler, North49’s President and Co-Founder, "EVO and North49 share a common appreciation for the critical role ERP providers play in supporting B2B merchants. I can see from EVO’s strategy that they will prioritize our relationship with Sage and continue to deliver products that benefit Sage 300 and Intacct customers around the world."

Terms of the transaction were not disclosed.

Additional Information

For additional information on EVO’s acquisition of North49 and the Company’s B2B business, please visit https://investor.evopayments.com/North49.

Forward Looking Statements

This release contains statements about future events and expectations that constitute forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are often identified by words such as "anticipates," "believes," "continues," "estimates," "expects," "goal," "objectives," "intends," "may," "opportunity," "plans," "potential," "near-term," "long-term," "projections," "assumptions," "projects," "guidance," "forecast," "outlook," "target," "should," "could," "would," "will" and comparable words. These forward-looking statements involve certain risks and uncertainties and other factors that could cause actual results to differ materially from those indicated in such forward-looking statements, including, but not limited to the ability of EVO to implement its plans and other expectations with respect to the acquisition and the other risks, uncertainties and important factors contained and identified (including under the heading "Risk Factors") in EVO’s filings with the Securities and Exchange Commission, any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this release are made only as of the date hereof and, except for EVO’s ongoing obligations under applicable securities laws, EVO undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

About EVO Payments, Inc.

EVO Payments, Inc. (NASDAQ: EVOP) is a leading payment technology and services provider. EVO offers an array of innovative, reliable, and secure payment solutions to merchants ranging from small and mid-size enterprises to multinational companies and organizations across the globe. As a fully integrated merchant acquirer and payment processor in over 50 markets and 150 currencies worldwide, EVO provides competitive solutions that promote business growth, increase customer loyalty, and enhance data security in the international markets it serves.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220523005069/en/

Sarah Jane Schneider

Investor Relations & Corporate Communications Manager

+1 (770) 709-7365

investor.relations@evopayments.com

Source: EVO Payments, Inc.

FAQ

What is the significance of EVO Payments' acquisition of North49?

The acquisition enhances EVO Payments' B2B integrated payment solutions for Sage users, expanding their portfolio of ERP integrations.

How will the North49 acquisition impact EVO Payments' business?

EVO Payments expects to attract new partners and merchants within the Sage ecosystem, strengthening its market position.

What are the financial terms of the EVO Payments and North49 acquisition?

The financial terms of the transaction were not disclosed in the press release.

When was the acquisition of North49 by EVO Payments announced?

The acquisition was announced in a press release on May 23, 2022.

Which companies are involved in the EVO Payments acquisition?

EVO Payments acquired North49 Business Solutions, a certified Sage Development Partner.