Paya (PAYA) Announces Strategic Acquisition of Paragon Payment Solutions

Paya Holdings Inc. (NASDAQ: PAYA) (“Paya Holdings,” “Paya” or the “Company”), a leading integrated payments and commerce solution provider, today announced the acquisition of Paragon Payments Solutions (“Paragon”).

Founded in 1994 and based in Tempe, AZ, Paragon is a growing integrated payments solutions provider, focused on serving the unique needs of the non-profit and healthcare verticals. Paragon’s omnichannel solutions offering, partner-centric distribution model, payment agnostic platform, and card-not-present volume mix is highly complementary to Paya’s business. Paragon processes approximately $1.5 billion in payment volume annually and has been a Paya distribution partner since 2011. Roy Bricker, Paragon’s CEO, will assist with joint integration efforts, specifically focusing on the combined product and solution innovation agenda. Brock Robertson, Paragon’s President, will join Paya to help lead ISV sales efforts, driving further growth across the combined businesses.

“We are excited to welcome the Paragon team into Paya, which further expands Paya’s strong position within the non-profit and healthcare verticals,” said Jeff Hack, CEO of Paya. “Through the addition of a high-quality, growing roster of software partners in key verticals, we are able to leverage Paya’s scale and expertise to further accelerate growth while delivering accretive financial returns to our shareholders. This marks Paya’s fourth acquisition and follows our blueprint of executing strategic M&A of integrated payment providers in attractive end markets, serving as a powerful complement to our organic growth strategy,” Hack added.

Paya expects to discuss the acquisition in further detail on its first quarter 2021 earnings conference call in May.

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