Search
Homepage Rankings and Research Companies Channelcast Marketing Matters CRNtv Events WOTC Cisco Partner Summit Digital 2020 Lenovo Tech World Newsroom HPE Zone The Business Continuity Center Masergy Zenith Partner Program Newsroom Dell Technologies Newsroom Fortinet Secure Network Hub Hitachi Vantara Digital Newsroom IBM Newsroom Juniper Newsroom The IoT Integrator Lenovo Channel-First NetApp Data Fabric Intel Tech Provider Zone

6 Things To Know About ScanSource's Proposed Acquisition Of POS Portal

ScanSource says it plans to purchase payment devices distributor POS Portal for $144.9 million. Here are six things solution providers need to know about the deal.

Back 1   2   3   ... 10 Next

photo

ScanSource Had Been Eyeing POS Portal For A While

Four years ago, around the time wide-scale implementation of EMV began, ScanSource was interested in acquiring POS Portal. But POS Portal's CEO, Buzz Stryker, was not interested in selling.

As a result, ScanSource began building out its Worldwide Barcode, Networking and Security business segment aimed at providing the retail channel with EMV-enabled products. However, POS Portal was enjoying quick success in that market due to its payments channel expertise, and Stryker said the company wanted to further advance its growth opportunities in the retail channel, where ScanSource already had excellent solution provider relationships.

"We were doing fine, but these guys at POS Portal were doing things remarkably well and advancing the market at a faster rate," ScanSource CEO Mike Baur said. "It became obvious that we should combine our efforts. ScanSource plus POS Portal we believe brings the largest and most sophisticated platform, from a configuration and service standpoint, in the payments industry. POS Portal is much broader in their capabilities than ScanSource. So this is a case of one plus one equals about 5.5."

Stryker and POS Portal COO Scott Agatep will join and help lead the ScanSource payments business as POS Portal is integrated into the Worldwide Barcode, Networking and Security division.

 
 
Back 1   2   3   ... 10 Next

sponsored resources