REPAY: Acquires cPayPlus To Boost AP Automation
- Payment systems provider REPAY Holdings Corp. acquired accounts-payable automation system cPayPlus LLC for up to $16 million
- Atlanta-based REPAY said terms included $8M in cash and $8M in further payments that will triggered if cPayPlus meets performance milestones
- REPAY says it handled $3.8B in card payments for the quarter that ended May 31 and generated gross profit of $28.7M on revenue
- All were up more than 50 percent from comparable year-ago figures
- In addition to reducing demand on staff, automated accounts payable systems can make it easier for purchasers of products
- cPayPlus founded in 2017 and is based in Salt Lake City
