Canadian FinTech Company ISO Office Acquired by Private Equity Owned Firm

USA - English

• USA - English

TORONTO, Ontario, Feb. 19, 2020 /PRNewswire-PRWeb/ -- ISO Office is proud to announce that it has been acquired by the $5B private equity owned firm SuzoHapp. The ISO Office platform has processed over 500 million transactions globally and serves the industry's largest processors, payment gateways, and ISOs. This strategic acquisition provides automated transaction reporting, device management, and complex payment distribution capabilities to SuzoHapp's global client base in the retail, manufacturing, distribution, gaming and amusement industries.

"This acquisition further strengthens SuzoHapp's market position in the global FinTech space," said Rory Herriman, EVP and Global Head of Digital Platforms for SuzoHapp. "Our company strives to bring full automation to cash handling and self-service solutions through innovative technology and hardware. The ISO Office platform brings new operational efficiency to the industries we serve by tackling the major challenges that our clients face in complex transaction tracking and management."

ISO Office's strength lies in its flexible end-to-end solutions for tracking and managing transactions with complex billing structures, while mitigating risk and reducing errors. The platform aggregates financial transactions and distributes payments based on any number of complex billing rules that are set up, consolidating transaction records into one centralized platform.

"SuzoHapp is a great match for our values, target markets, products, and capabilities. I strongly believe that SuzoHapp will continue to execute the vision that has guided ISO Office's growth," said Ariel Mashiyev, CEO of ISO Office. "I'd like to thank our team members and customers for their positive support during this transition, and for their continued loyalty as the company continues to grow."

SuzoHapp's clients will now be able to control management, boarding, settlement, and billing, as well as generate comprehensive reconciliation reporting. The powerful industry-specific extensions within the ISO Office platform will further improve asset and operations management for clients with POS, ATM, e-commerce, cash-in-transit, and other products and services.

ABOUT SUZOHAPP

SuzoHapp is a technology company providing software and hardware for cash handling automation and self-service solutions globally. SuzoHapp's technology enables automation for customers operating in a variety of markets, including retail, transportation, gaming, banking, vending and amusement. SuzoHapp is owned by affiliates of ACON Investments, L.L.C.

ABOUT ISO OFFICE

ISO Office is a Canadian FinTech company that provides flexible financial tools that help companies manage assets and operations. Since its inception, the platform has processed over 500 million transactions for its clients globally. ISO Office is a division of AppGear Ltd.

SOURCE ISO Office