Vantiv Inc., a Cincinnati-based company focusing on payment processing services and related technology solutions for merchants and financial institutions, said today it will acquire Litle & Co. of Lowell for $361 million.
Litle & Co. is an independent e-commerce payment processor for companies that sell goods and services to consumers over the Internet and through direct response marketing.
Vantiv said the acquisition will significantly increase the company's online sales capabilities and expand its customer base of online merchants.
"Litle & Co. has built a premier e-commerce product in the market, which is supported by an extremely talented leadership team," said Vantiv president and CEO Charles Drucker. "The combination of our two companies will create differentiation in our product offerings and enable us to rapidly capitalize on market opportunities."
The transaction is expected to close by the end of the year. Upon completion, Litle & Co. will become a subsidiary of Vantiv while maintaining its location in Lowell.
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