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Priority Technology Holdings, Inc. Announces Strategic Acquisition of PPS Northeast

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Priority Technology Holdings, Inc. Announces Strategic Acquisition of PPS Northeast

The addition of PPS Northeast to the Priority portfolio creates an immediate positive financial impact in addition to bringing a group of seasoned payments professionals into the organization, led by its founder and long time industry veteran Joseph Harrington.

PR Newswire

ALPHARETTA, Ga., Aug. 23, 2018 /PRNewswire-PRWeb/ -- Priority Technology Holdings, Inc. (NASDAQ: "PRTH") is pleased to announce the acquisition of PPS Northeast, a Providence, Rhode Island based former independent brand licensed office of Priority Payment Systems.

"Under Mr. Harrington's leadership, PPS Northeast has established itself as the leading financial technology company in the New England market, with a heavy emphasis on the hospitality sector," said Afshin Yazdian, President of Priority Payment Systems Core Acquiring group. "Moving well beyond payments, the group developed expertise in software integrated payments and payment adjacent services, managing turnkey installations of Point of Sale and supporting systems, as well as marketing programs that placed heavy emphasis on contemporary technologies like online ordering systems and digital marketing campaigns. We are excited to have them as part of our team here at PRTH."

With the acquisition complete, Mr. Harrington will now assume a leadership role inside Priority, focusing on two key strategic growth areas: the FI/Community Bank channel and new business development for Priority's integrated software products among existing acquiring portfolio and reseller community.

"While starting and growing a business that achieved success notable enough to become an acquisition target is hugely satisfying, I can't help but believe that some of my best days in the payments space are still ahead of me," commented Mr. Harrington. "It makes me even more confident knowing the same great people that built that business with me are still my teammates in Priority Technology Holdings."

"This acquisition provides us with key business development assets to continue our growth and it couldn't come at a better time as we establish ourselves as a public enterprise. Joe's proven strategies and business processes will be the framework for a more sophisticated approach to our internal sales efforts," added Mr. Yazdian.

About Priority Technology Holdings Inc.

Priority Technology Holdings, Inc. is a leading provider of merchant acquiring and commercial payment solutions, offering unique products and service capabilities to its merchant network and distribution partners. The enterprise operates from a purpose-built business platform that includes tailored customer service offerings and bespoke technology development, allowing it to provide end-to-end solutions for payment and payment-adjacent opportunities. Headquartered in Alpharetta, GA, Priority has approximately 520 employees and is led by an experienced team of payment technology executives.

 

SOURCE Priority Technology Holdings, Inc

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