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Moneris Solutions to Buy Humboldt |
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Moneris Solutions says it will acquire the assets of Humboldt Merchant Services in a deal the company that will substantially increase its U.S. distribution and West Coast presence. Humboldt provides services to more than 18,000 merchants and processes nearly $2.5 billion in bankcard volume annually. "Acquiring Humboldt Merchant Services fits perfectly with our overall U.S. growth strategy," says Moneris president Greg Cohen. "Not only will the acquisition add over 18,000 merchants to our portfolio, but it will provide us new sales and distribution channels that will substantially expand our reach." The acquisition includes Humboldt's operations, infrastructure, and team members, and is expected to close by the end of the year.
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