i3 Verticals (IIIV) to Reduce Debt Through New Divestiture

i3 Verticals (IIIV) recently entered into a definitive agreement to sell its merchant of record payments business to Payroc WorldAccess, LLC, in an all-cash deal worth $440 million. The proceedings from the transaction will provide i3 Verticals with a substantial infusion of liquidity that will help it meet immediate financial needs. IIIV's merchant of record payments business uses application programming interfaces ("API") to simplify transaction processes. These APIs eliminated the need for Payment card i ...