Vantiv president and CEO Charles Drucker said, "The acquisition of Litle & Co. will enable us to offer leading, integrated products in high growth markets, allowing our clients to engage with their customers across multiple channels, with better visibility and increased simplicity."
"The combination of our two companies will create differentiation in our product offerings and enable us to rapidly capitalize on market opportunities. We are very excited to work with the Litle team."
Pending regulatory approvals and customary closing conditions, the transaction is expected to close in late 2012.
On completion, Litle & Co will operate as a subsidiary of Vantiv, and maintain its location in Lowell, Massachusetts.
JP Morgan and Ulmer & Berne served as financial advisor and legal counselor, respectively to Vantiv, while William Blair & Company and WilmerHale acted as financial advisor and legal counsel, respectively for Litle & Co.
Vantiv provides a suite of traditional and innovative payment processing and technology systems to merchants and financial institutions of all sizes in the US.
