iTransact Acquired By Payroc

Farmington, Utah-based payment processing gateway and merchant account provider iTransact has been acquired by Illinois-based Payroc, the two said today. Financial terms of the acquisition were not disclosed. Payroc said the acquisition adds more than 6,000 merchants, more than 300 "trusted advisor referral partners" and around $1.3 billion in annual processing volume to the company. iTransact was led by Stephen Hall, who becomes a member of Payroc's board of managers. Payroc also has added a number of iTransact's executives to its team.