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Repay Holdings acquires APS Payments

Repay Holdings Corp. acquired Mesa, Ariz.-based APS Payments for $60 million, of which $30 million was paid at closing.

The remaining $30 million may be paid upon the achievement of performance growth targets. The deal was financed with a combination of cash on hand and proceeds from borrowings from Repay Holdings' credit facility.

APS Payments is a payments provider focused on the business-to-business vertical.

The acquisition is immediately accretive to earnings.