Banc of California Acquires Deepstack Payments Platform from Global Payroll Gateway
September 15, 2022
Banc of California acquired the payments platform and technology assets of Global Payroll Gateway, Inc. and its subsidiary Deepstack Technologies for $24 million in cash and stock. The acquisition, which brings Deepstack's team (11 employees) and IP into Banc of California, expands the bank's payments capabilities and aims to grow fee-based, non-interest income.
- Buyers
- Banc of California, Inc.
- Targets
- Deepstack Technologies (Global Payroll Gateway, Inc.)
- Industry
- Payments & Fintech
- Location
- Florida, United States
- Transaction Type
- Buyout
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