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Direct Investment  + M&As  | 
Embedded Payments Platform Fortis Buys Payment Technology Firm Payment Logistics

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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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.