Collective Point of Sale Solutions, a Toronto-based point of sale solution provider has been acquired by Elavon for an undisclosed sum this morning. Elavon is a global payments provider and wholly-owned subsidiary of U.S. Bancorp (NYSE: USB). The deal will help Elavon expand their presence and distribution network in Canada and aligns with Elavon’s global growth strategy in strategic markets.
“The opportunities for Elavon to leverage Collective POS’ solutions and established customer base in Canada will deliver the best of both companies’ offerings to the Canadian marketplace,” said Tom Boyer, President of North America for Elavon. “Establishing a greater presence in the Canadian market is in line with Elavon’s global growth plans.”
Founded in 2001, Collective POS is known for providing innovative, customized payment processing and merchant services to entrepreneurs and owners of small to medium-sized businesses in Canada. With more than 80 employees, Collective POS serves nearly 12,000 businesses across Canada and processes in excess of $1 billion worth of debit and credit card transactions annually.