ZipLine, a Portland-based cost expertise agency that processes greater than 6 million transactions a month for retailers together with Circle Okay, Cumberland Farms and Irving Oil, has been acquired by Atlanta-based Skilled Datasolutions Inc.
The acquisition was introduced by the customer, which supplies enterprise software program for the comfort retail and petroleum wholesale market, and comes six years after Stephen Goodrich purchased Florida-based Nationwide Cost Card Affiliation, which he moved to Portland and renamed ZipLine.
Phrases of the deal weren’t disclosed.
Over the weekend, PDI spokesman Cederick Johnson instructed Mainebiz that the acquisition consists of all 61 ZipLine workers, bringing PDI’s whole to 1,000.
He stated that PDI has made 17 acquisitions over the previous couple of years to increase its options portfolio, lengthen its international attain and supply native presence in native markets and serve clients higher.
Earlier than ZipLine, PDI’s most up-to-date latest acquisition was SwiftIQ, a Chicago-based supplier of analytics cloud and vendor collaboration software program and providers.
Requested how ZipLine acquired onto PDI’s radar, Johnson instructed Mainebiz, “We constantly study our enterprise and greatest develop our choices, both organically or via acquisitions, to fulfill our clients’ wants. ZipLine offered a possibility for us to speed up our development technique and get into the funds house, which is a vital half our clients’ answer ecosystem.”
He additionally famous that the companies share most of the identical clients, and that “our clients are asking us to extra tightly combine funds and loyalty.”
PDI ‘the right match’ for ZipLine
In a information launch, Goodrich referred to as PDI “the right match for our best-in-class cost platform.”
He added: “The mixture of each entities will strongly assist our service provider companions in enhancing the visitor expertise and model affinity.”
Brandon Hodgson, PDI’s president and basic supervisor for advertising cloud options stated that “with the addition of Zipline, we’ve constructed a holistic ecosystem that begins with a cellular transaction on the pump, consists of client loyalty, CRM [buyer relationship administration[ and affords that present whole transaction visibility within the again workplace, enabling unmatched insights. That is extraordinarily significant to our market.”
Requested whether or not the ZipLine title and Portland presence will stay, he stated that ZipLine will undertake PDI’s company model, and the plan is to completely combine the expertise into PDI’s advertising cloud platform as shortly as attainable.
“In regards to the Portland workplace,” he stated, “we do not make any quick choices. The situation technique shall be addressed as a part of the combination course of within the coming months.
ZipLine’s monetary advisor on the transaction was Cowen.
PDI didn’t disclose its advisors.
ZipLine is one in all a number of monetary expertise companies based mostly in Portland, from small startups to international participant WEX Inc. (NYSE: WEX), forming what SCORE Portland chapter chair Nancy Strojny has described as “a tremendous area of interest of fintech corporations, as a result of intersection of expertise and expertise.”
The sector has had its shares of ups and downs, with bank card processing firm Evo Funds Inc. (Nasdaq: EVOP), earlier this yr unveiling plans to put off practically 140 employees, Mainebiz reported in January.