BROOKFIELD, Wis.—Fiserv, Inc. has agreed to acquire Pineapple Payments.
The acquisition will expand Fiserv’s reach, including the CoPilot partner platform, Clover and Clover Connect, through the technology- and relationship-led distribution channels of Pineapple Payments.
Founded in 2016, Pineapple Payments provides payment processing, proprietary technology and omni-channel payment acceptance solutions for integrated software vendors and small and medium businesses. The company currently serves more than 25,000 merchants.
“With Pineapple Payments already operating as a key distribution partner of Fiserv, we expect to accelerate the delivery of new and innovative capabilities to a host of new merchant clients,” said Frank Bisignano, president and CEO of Fiserv. “Together, we will provide omni-channel payments technology and services to enable merchants to maximize the potential of electronic payment processing. We look forward to welcoming Pineapple Payments to the Fiserv family and continuing to provide the best-in-class solutions and service that merchants and their customers expect.”
Deal to Close in Q2
The transaction is subject to customary approvals and closing conditions and is expected to close in the second quarter of 2021. Financial terms of the transaction were not disclosed, Fiserv said.
“Pineapple Payments’ mission is to add value to the payments experience through simple, secure and scalable solutions. Based on our existing relationship, we believe Fiserv is the ideal partner to take that mission to the next level and beyond,” said Brian Shanahan, CEO of Pineapple Payments.