Payments processing provider Intrix Technology, Inc. (Intrix) announced that it has retained PayEx LLC, a prominent payments industry consulting group, to assist the company in developing its acquisition strategy and to provide advisory services in connection with potential transactions.
PayEx will work with the Intrix to identify and negotiate one or more strategic acquisitions over the next twelve months. PayEx will assist with developing an acquisition strategy, identifying and evaluating strategic opportunities, collecting and analyzing information regarding potential target companies, determining the valuation of potential target companies and executing contracts for this external growth strategy.
"With a world class gateway solution and substantial capitalization, Intrix has spent the last year establishing additional infrastructure to support a growth strategy through acquisitions and organic initiatives,” said Jeff Connors, chairman and CEO of Intrix, in a prepared statement. “We look forward to working with PayEx to evaluate and pursue such opportunities."
PayEx specializes in working with banks, isos, processors, card associations, investment firms and merchants to evaluate current situations, offer realistic strategies and implement successful solutions. PayEx partners have more than 100 years combined experience in all areas of the acquiring payments industry.
Scott Kimsey, managing partner of PayEx LLC, commented, "PayEx is excited for the opportunity to work with Intrix and looks forward to assisting the company in evaluating acquisition opportunities across a broad-segment of the payments marketplace with a particular focus based on portfolio size, merchant verticals and distribution channels."