Vantiv, Inc., a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, has completed its acquisition of Litle & Co., a leading independent eCommerce payment processor, providing a fully-integrated payments solution for companies that sell goods and services to consumers over the internet and through direct response marketing. Litle & Co. serves leading eCommerce and consumer-direct brands, including Overstock.com, Ancestry.com, Gilt Groupe, Guthy-Renker, ShopNBC and Wayfair.com.
The acquisition of Litle & Co. significantly increases Vantiv's capabilities in eCommerce, expands and diversifies its customer base of online merchants, and enables the delivery of Litle's innovative eCommerce solutions to Vantiv's merchant and financial institution clients. The combined company will offer merchants a "one-stop" suite of Point-of-Sale, eCommerce, and Direct Response payment processing solutions.
Under the terms of the agreement, Vantiv paid $361 million in cash, including $50 million drawn from its existing revolving credit facility. Litle & Co. will operate as a subsidiary of Vantiv, LLC and will maintain its location in Lowell, Massachusetts. Vantiv is headquartered in Cincinnati, Ohio.