RTTNews | Jan 3, 2022 08:39AM EST

08:39 Monday, January 3, 2022 (RTTNews.com) - Repay Holdings Corp. (RPAY), a leading provider of vertically-integrated payment solutions, announced Monday it has acquired Payix n a cash-free, debt-free basis for up to $115 million, including $95 million paid at closing and up to $20 million may become payable through an earnout, which is contingent on Payix's performance in 2022.

Founded in 2016, Fort Worth, Texas-based Payix is a leading omni-channel payment technology platform providing solutions that facilitate payments, data exchange, and communication to support customer service and collection efforts in loan repayment verticals.

Payix's software supports a wide range of payment options and modalities, and integrates into loan management systems (LMS) and dealer management systems (DMS) by providing a SaaS approach to collections technology.

The acquisition was financed with cash on hand and available revolver capacity. Repay also announced the upsizing of its revolver capacity by $60 million, increasing its existing $125 million Revolving Credit Facility to $185 million.

Read the original article on RTTNews ( https://www.rttnews.com/3252386/repay-holdings-buys-payix-for-up-to-115-mln-quick-facts.aspx)

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