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Direct Investment  + M&As  |  November 15, 2022
Embedded Payments Platform Fortis Buys Payment Technology Firm Payment Logistics
Joe Palmisano
By: Joe Palmisano

Fortis Buys Payment Technology Firm Payment Logistics

Fortis, an embedded payments platform for software providers, marketplaces and developers, is acquiring payment technology company Payment Logistics. Terms of the deal were not disclosed.

Payment Logistics founder, Dustin Niglio, will continue to lead the La Jolla-based team as part of the Fortis family.

Payment Logistics will continue to offer payment solutions tailored to the specialty retail and hospitality markets with Fortis’ enablement, payment facilitation and engagement engine.

“We started Payment Logistics 19 years ago with a vision to provide the technology retail and hospitality businesses need for a rapidly evolving electronic payment processing industry,” Niglio said. “Fortis is growing quickly and investing in innovation, so joining the Fortis team is the logical next step toward realizing our founding vision,” he added.

Leonis Partners served as strategic advisor to Payment Logistics. Fortis partnered with Morgan Lewis for legal advisement.

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FortisPayment Logistics

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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