(January, 2018) Clearent, a St. Louis-based payments solution provider, has completed the purchase of Draper, Utah-based SPOT Business Systems, LLC, an independent software vendor (ISV) serving customers in the drycleaning industry, it reports.
“We are excited to name SPOT as the first acquisition in our new division, Clearent Software Holdings,” says Dan Geraty, CEO and founder. “As a market leader servicing the drycleaning industry with an excellent history of customer service and retention, SPOT will help us realize our vision: to be a highly-recommended payments solution provider in the industry,” he adds.
SPOT Business Systems will become part of a newly-created subsidiary, Clearent Software Holdings, where it will benefit from Clearent’s resources, including its sales and technology teams, while operating effectively as it had before the sale, the company relates. SPOT’s day-to-day operations remain unchanged, and all current SPOT employees will retain their positions after the sale, it indicates.