Payments & Fintech Acquisitions in Minnesota

Ziff Davis, Inc. acquired TDS Gift Cards, a global provider of gift card products, services and processing technology, from The Tornante Company and funds affiliated with Madison Dearborn Partners. The acquisition (reported at approximately $48 million) expands Ziff Davis's shopping and payments capabilities, broadens its product lineup and extends its global customer reach; terms were not material to Ziff Davis's financials.

Clarion Capital Partners completed a control investment in Ready Credit Corporation (including its Reverse ATM subsidiary) on May 25, 2023. The partnership will fund product and infrastructure enhancements, geographic expansion and go-to-market growth as Ready Credit scales its cash-to-card prepaid kiosk payment solutions for airlines, venues, transit authorities and other consumer-facing businesses.

TreviPay, a global B2B payments and invoicing network based in Overland Park, Kansas, has signed a definitive agreement to acquire Apruve, a trade-credit automation and pay-by-invoice platform. The acquisition expands TreviPay's order-to-cash capabilities and deepens its presence in the manufacturing vertical and key international markets.

AffiniPay, a provider of professional services payment solutions, acquired ClientPay from Persolvent to accelerate adoption of online payments among large law firms and expand its enterprise payment capabilities. The acquisition integrates ClientPay into AffiniPay’s portfolio (including LawPay) and adds key large-firm technology partnerships to strengthen AffiniPay’s enterprise market position.

InComm, a payments and technology provider headquartered in Atlanta, acquired Hallmark Business Connections, the B2B incentives subsidiary of Hallmark Cards. The acquisition expands InComm’s loyalty and incentives offerings by adding Hallmark’s integrated physical and digital gift card and employee engagement program capabilities, serving Fortune 500 clients across healthcare, banking and hospitality.