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Tuesday, May 21, 2024

EMS Expands with Acquisition of LA’s PaymentCloud

In January 30, 2024, PaymentCloud was acquired by Electronic Merchant Systems (EMS), a US-based payment technology provider. The objective of the procurement is to enhance long-term growth opportunities. EMS believes that the deal will further scale its technology infrastructure and channel distribution. This move shore up its technology stack and will provide merchant with more efficient onboarding and processing tools. On the other hand, the deal will enable PaymentCloud to expand its sales channels while leveraging EMS infrastructure, and will also accelerate the expansion of its Inside Sales channels.

Afshin Yazdian, President and CEO of EMS, warmly welcomed the PaymentCloud team. He believes that a superior customer experience is crucial for the company’s continued success. For EMS, this transaction will significantly drive its future growth. He also announced that Shawn Silver will become the Chief Revenue Officer and Neal Hoffman as Chief Marketing Officer of EMS. The PaymentCloud team is excited to achieve success by working together.

Founded by Shawn Silver and Neal Hoffman, PaymentCloud grew quickly by leveraging technology and marketing expertise to support small merchants, and was listed in Inc. 5000 after just a few years from its establishment. The acquisition empowers this fintech start-up to grow further. PaymentCloud will continue to operate from its offices in The Angels with future plans to expand.

Jim Weiland, Chairman of EMS, expressed content that PaymentCloud has been a ranking partner for EMS, and that the acquisition will further scale both companies.

FT Partners was the exclusive strategic and financial advisor to EMS in this transaction. About Electronic Merchant Systems: Electronic Merchant Systems is a payment solutions provider headquartered in Cleveland, Ohio, and the company has over 25,000 customers nationwide. About PaymentCloud: PaymentCloud is based in Encino, California, providing application processes, integration options, and payment professionals to a multitude of diverse industry types, including the top digital ISOs and ISVs.

Please find below the contact detail of Neal Hoffman and EMS or PaymentCloud:

Neal Hoffman

Source: Electronic Merchant Systems


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