Allan Noe, President and Principal of Approval Payment Solutions, Inc. (APS), a multi-faceted and award-winning payment solutions provider, has announced the completion of the acquisition of Orion Payment Systems, Inc. (OPS). The combined entities move the Newburgh, Indiana company into the top 40 of United States processors with total annual processing nearing $4 billion.
“Today’s announcement signifies an important step in driving strategic priorities forward for APS,” said R. Allan Noe, President and CEO of APS. “Our industry is in transition. This solidifies and extends APS’ vision of helping our clients prosper.”
With the acquisition, Noe realizes a 60% increase in APS’ revenue and customer base through the addition of OPS’ book of business.
“Orion has a solid base of clients and agent representatives in the Southwest, mountain states, and West coast,” said Noe. “Our suite of digital products fits well with their sales channel and clients. We also see opportunity in continuing to develop OPS’ Empower brand.”
“We are excited to be part of the APS team,” said Reese Kimball, President of Houston-based OPS. “OPS’ senior management team will realize operational and sales gains by leveraging APS’ technology, operational resources and training.
Terms of the deal were undisclosed.
About Approval Payment Solutions– Founded in 1998, APS is a multi-faceted and award-winning payment solutions provider. Fueled by acquisitions and organic growth, APS is a top-40 United States provider of merchant services. APS expects to top $4 billion in processing volume in 2018. APS focuses on increasing their clients’ revenue, reducing costs, and mitigating risks. APS boasts a nationwide sales and service footprint.