- Paya Holdings Inc (NASDAQ:PAYA) acquired VelocIT Business Solutions for an undisclosed sum.
- VelocIT provides fully integrated, omnichannel payment solutions to accounting and ERP partners, driving frictionless commerce experiences for their end-users.
- Paya noted VelocIT expands and strengthens its integrated payments capabilities.
- "We are excited to welcome the VelocIT team to Paya as we look to expand and accelerate Paya's growth within the ERP channel," said Jeff Hack, Paya's CEO.
- Paya held $133.1 million in cash and equivalents as of September 30.
- Analyst Rating: Morgan Stanley maintained Paya with an Equal-Weight and lowered the price target from $8.50 to $6.50.
- Price Action: PAYA shares traded higher by 6.62% at $6.28 on the last check Thursday.
