(RTTNews) – Jack Henry & Associates, Inc. (JKHY) announced Wednesday the acquisition of Victor Technologies, Inc., a cloud-native, API-first provider of innovative direct-to-core embedded payments solutions, from MVB Financial Corp. (MVBF). Terms of the transaction were not disclosed.
The acquisition expands Jack Henry’s capabilities in the rapidly growing Payments-as-a-Service (PaaS) market, in which financial institutions embed payment services into third-party, non-bank brands.
The addition of Victor, which processes billions of dollars in payments monthly, provides Jack Henry’s financial institution clients with enhanced capabilities to serve fintechs and commercial customers, grow deposits, and diversify revenue.
The PaaS market is expected to grow to $43.9 billion in 2029 from $19.1 billion in 2025 at a compound annual growth rate (CAGR) of 23.1%, according to Research and Markets.
Victor is already integrated with Jack Henry’s SilverLake core bank system and JHA PayCenter. Jack Henry plans to expand Victor’s capabilities to serve its Symitar credit union and Treasury Management platform clients, and integrate directly with the new, cloud-native Jack Henry Platform.
Jack Henry expects the acquisition to be minimally dilutive to earnings per share for the remainder of fiscal 2026 and fiscal 2027 and become accretive in fiscal 2028.
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