Elavon, a subsidiary of U.S. Bancorp, has acquired Electronic Transaction Systems (ETS), a financial technology company based in Virginia. The acquisition is designed to allow Elavon to integrate payment processing into ETS’ software, and provide businesses a safe and simple way to access Elavon’s services.
Increasingly, business owners expect that the software packages they use to run their businesses will come with payments acceptance and processing embedded in the software offering. Elavon says it is paving a way to future growth by integrating with these software packages. Financial terms of the deal were not disclosed.