Evo Payments International, a leading payment service provider operating in the United States, Canada and Europe, announced today that it has acquired the Encore Group.
The Encore Group, consisting of existing EVO strategic partners Encore Payment Systems, Prodigy Payment Systems and Momentum Payment Systems, is headquartered in Addison, Texas and provides payment processing solutions to small and medium sized businesses located throughout the United States and Canada.
Jeff Rosenblatt, President of EVO Payments International said, "We are excited to welcome the Encore team into the EVO family. We have worked with the Encore team for almost 10 years and have been impressed by their ability to grow their organization into a leading provider of payment solutions to the merchant market."
Over the past year, EVO has grown significantly by introducing leading payment solutions to the market, as well as acquiring domestic and international businesses. The Encore acquisition enables EVO to leverage Encore's proven North American sales distribution strategies to drive further growth in EVO's new international markets.
"We are thankful for the support we have received from EVO over the years and look forward to our new partnership together," stated Mark Harrelson, Co-Founder of Encore. "Our partnership will provide us with significant growth opportunities in both the North American and international markets."
Encore's outbound call center, supported by a sophisticated predictive dialing platform and hundreds of sales agents, allows for the direct development of merchant leads, appointment setting and in-person sales reviews with prospective merchants. Encore's proprietary sales processes, coupled with EVO's onboarding platform, allow prospective merchants to begin processing payment transactions within days of initial contact with the merchant. Consistent with EVO's international expansion strategy, EVO will implement Encore's sales processes throughout EVO's international markets.
Ray Sidhom, Chairman and Founder of EVO commented, "We recognize the tremendous accomplishments achieved by the Encore ncore team in developing proven sales distribution strategies, backed by an efficient infrastructure that meet the needs of our merchants. We are excited to have the Encore team help us with our international expansion initiatives."
The transaction is effective immediately and financial terms were not disclosed.