Clarus: Clarus Merchant Services Acquires Payment Processing Assets from ANARAQ

Clarus Merchant Services has agreed to acquire the merchant processing assets of ANARAQ Holdings, LLC, a New York based financial technology company specializing in the electronic payment processing industry. ANARAQ Holdings, LLC is a portfolio company of Altpoint Capital Partners. "ANARAQ has grown significantly both organically and through acquisitions under Altpoint's ownership since its founding in 2012. As the electronic payment processing sector continues to evolve, we believe that a partner such as Clarus will bring the technology offerings, scale and geographic reach to efficiently continue to grow the ANARAQ merchant portfolio assets," said Andrew Grapkowski, Partner & Managing Director at Altpoint Capital and Chairman of the Board of ANARAQ. John Wu, Founder and CEO of ANARAQ, added, "We have been very pleased with ANARAQ's growth under our management and ownership. We couldn't have found a better fit in Clarus. We have full confidence that Clarus will continue to build upon the quality electronic payment processing platform that ANARAQ has successfully developed and nurtured since its founding." ANARAQ was advised exclusively by Preston Todd Advisors, a boutique M&A advisory firm specializing in FinTech and payments. The financial terms of the transaction were not disclosed.