Deluxe (NYSE: DLX) announced today it has completed the previously announced acquisition of First American Payment Systems (“First American”) for $960 million in cash. Deluxe announced the proposed transaction on April 22, 2021.

With the addition of the First American omni-channel payments platform, Deluxe immediately becomes a scaled and leading provider in the strong secular growth merchant services market. The acquisition doubles the revenue of the company’s fastest growing segment, Deluxe Payments, to $600 million annually, with attractive margins. Deluxe Payments accounts for 17 percent of the company’s revenue currently. With First American, Payments will account for 29 percent. Learn more.