USA
Clearent, a St. Louis-based payments solution provider, has announced it has completed the purchase of SPOT Business Systems, an independent software vendor (ISV) serving customers in the drycleaning industry. Details of the acquisition were not disclosed.
SPOT Business Systems will become part of a newly created subsidiary, Clearent Software Holdings, where it will benefit from Clearent’s resources, including its sales and technology teams, while operating effectively as it had before the sale. SPOT’s day-to-day operations remain unchanged, and all current SPOT employees will retain their positions after the sale.
“We are excited to name SPOT as the first acquisition in our new division, Clearent Software Holdings,” said Dan Geraty, CEO and founder of Clearent. “As a market leader servicing the drycleaning industry with an excellent history of customer service and retention, SPOT will help us realize our vision: to be the most highly recommended payments solution provider in the industry.”
“We’ve considered acquisition offers from a number of potential buyers over the years, but we believe that joining the Clearent team is the best way to take the business solutions we’ve created at SPOT to the next level,” said Mark Jones, director of operations for SPOT Business Systems. “With this acquisition, we will retain a high level of operational autonomy, which means our customers will enjoy the same level of service we offered prior to the sale.”
