
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.