Verifone buys e-commerce specialist 2Checkout

Verifone has acquired 2Checkout, the Atlanta-based e-commerce payments processor, as Verifone continues to expand its online resources.

2Checkout, which launched in 2006, provides a streamlined onboarding service, hosted checkout forms and APIs enabling merchants to accept payments in various locations and currencies. In 2017, global e-commerce and subscription billing firm Avangate purchased 2Checkout, and Francisco Partners became the majority owner of the combined entity.

Merchants will see no immediate changes from the acquisition, but over time 2Checkout will leverage Verifone’s broad scale and reach, according to a blog post from Erich Litch, 2Checkout’s president and chief operating officer.

Jacob Kepler/Bloomberg

The move brings 2Checkout under the private-equity umbrella of Francisco Partners, which purchased Verifone in 2018. Operating for the last two years under CEO Mike Pulli, Verifone continues to diversify beyond its roots as a payments hardware provider.

Terms of the deal were not disclosed.