Heartland Payment Systems Acquires Leaf; Terms Undisclosed

(RTTNews) - Heartland Payment Systems (HPY) announced that it acquired Leaf, creator of a mobile Point of Sale or POS tablet specifically designed for commerce. Terms of the agreement were not disclosed.

The company noted that Leaf's cost-effective product helps retail stores, restaurants, and other local merchants improve the speed and ease of checkout and offers easy-to-use business management, analytics, and customer engagement.

Through the acquisition, Heartland demonstrates its ongoing commitment to providing the support and resources needed to execute on the companies' shared vision of delivering an open and flexible POS platform that makes it easier to run and grow a small business. Leaf will continue to be payments agnostic, working with the majority of domestic payments processors, and continue to build distribution relationships with industry-leading sales organization and partners.

In September 2013, Heartland made a $20 million investment in Leaf and with this acquisition has purchased the remaining minority interest.

Heartland said Leaf will operate as a separate business unit of Heartland, continuing its mission to help small businesses manage operations through an open and flexible technology platform that can best fit their needs.