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i3 Verticals - M&A Summary and Business Overview

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i3 Verticals M&A Summary

i3 Verticals has acquired 18 companies, including 2 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 2 assets.

i3 Verticals’ largest acquisition to date was in 2021, when it acquired Business Information Systems for $88M. It’s largest disclosed sale occurred in 2024, when it sold i3 Verticals - Merchant of Record Payments Business to Payroc for $440M. i3 Verticals has acquired in 11 different US states. The Company’s most targeted sectors include information technology (78%) and financial services (6%).

i3 Verticals Business Overview

Where is i3 Verticals headquartered?

i3 Verticals is headquartered in Nashville, Tennessee.

What is i3 Verticals’ revenue?

i3 Verticals disclosed revenue of 230M USD for 2024 and 227M USD for 2023.

How many employees does i3 Verticals have?

i3 Verticals has 1,480 employees.

What sector is i3 Verticals in?

i3 Verticals is an information technology company.

When was i3 Verticals founded?

i3 Verticals was founded in 2012.

M&A Summary

  • M&A Total Activity19
    • M&A Buy Activity18
    • M&A Sell Activity2
  • Total Sectors Invested 4
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 3
  • M&A Advisors 2

i3 Verticals

i3 Verticals, Inc.

40 Burton Hills Blvd., Suite 415,
Nashville, Tennessee 37215
United States,
(800) 203-7981
www.i3verticals.com

i3 Verticals is a technology and integrated payments provider for a range of industry verticals throughout the United States. i3 Verticals was founded in 2012 and is based in Nashville, Tennessee.


M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.4/yr) # 16 1 - 1 - - 18
vol $53M $88M $140M
Sell (0.4/yr) # - - - - 1 1 2
vol $440M $96M $536M
  20

Most Recent M&A

Company Date Value Type
i3 Verticals - Healthcare Revenue Cycle Management Business 2025-05-06 96M USD Divestiture
Nashville, Tennessee
i3 Verticals - Merchant of Record Payments Business 2024-06-26 440M USD Divestiture
, United States
AccuFund, Inc. 2023-01-06 - Add-on Acquisition
Castle Rock, Colorado · www.accufund.com
Business Information Systems, Inc. 2021-02-05 88M USD Add-on Acquisition
Piney Flats, Tennessee · www.bisonline.com
Pace Payment Systems 2019-06-03 53M USD Add-on Acquisition
Murfreesboro, Tennessee · www.pacepayment.com
iGov Solutions LLC 2019-03-12 - Add-on Acquisition
Lake Mary, Florida · www.igovsolution.com
CSC Links LLC 2017-02-01 - Add-on Acquisition
, United States
Randall Data Systems LLC 2017-02-01 - Add-on Acquisition
Plymouth, Michigan · www.randalldata.com
Axia Payments LLC 2016-06-01 - Add-on Acquisition
Santa Barbara, California · www.axiapayments.com
Bill & Pay 2016-04-19 - Add-on Acquisition
Minneapolis, Minnesota
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Information Technology 14 (82%) 140M (100%) 2 (100%) 536M (100%)
Financial Services 1 (6%) - - -
Internet Software and Services 1 (6%) - - -
Software 1 (6%) - - -
Total 17 $140M 2 $536M

By Geo

State/Country Buy Value Sell Value
United States 18 140M 2 536M
  Tennessee 3 140M 1 96M
  Ohio 3 - - -
  New York 2 - - -
  Florida 2 - - -
  California 2 - - -
  Virginia 1 - - -
  Minnesota 1 - - -
  Michigan 1 - - -
  Georgia 1 - - -
  Colorado 1 - - -
Total 18 $140M 2 $536M

Top M&A Advisors

Financial Deals
Raymond James - Investment Banking
 2
Legal Deals
Bass, Berry & Sims
 2

Deal Values

buy # Total
< $100M 2 $140M
TOTAL $140M
Largest Business Information Systems, Inc.
$88M (2021-02-05)
sell # Total
$100M to $1B 1 $440M
< $100M 1 $96M
TOTAL $536M
Largest i3 Verticals - Merchant of Record Payments Business
$440M (2024-06-26)

M&A Connections

Deals
Acquired from
Investor(s)
6%
1 (6%)
Divested to
Strategic(s)
100%
2 (100%)

Company Summary

SECTOR

Information Technology

Revenue

230   2% 2024
227   21% 2023
188   17% 2022
224   50% 2021
150   61% 2020
376   17% 2019
324   24% 2018
263   32% 2017
200   2016
(millions of USD) Show More Show Less

Employees

1,480

Established

2012

Public

NASDAQ: IIIV

Former Name

Charge Payment LLC

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