Data Processing Solutions, a Southborough-based merchant services firm, has sold its gas station payment processing division to Celero Commerce.
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Data Processing Solutions, a Southborough-based merchant services firm, has sold its gas station payment processing division to Celero Commerce, a Nashville-based fintech company.
The division, Petroleum Processing Solutions (PPS), provides credit card processing services to convenience store merchants and independent gas stations, primarily through a pay-at-the-pump model, according to DPS.
“We had been searching for the right partner, one who matched our commitment to providing merchants the tools they need to operate a successful business, and have found one in Celero,” PPS Founder Sandra Young said in a Thursday press release announcing the acquisition.
PPS will retain its leadership team as the Celero integrates the brand’s technology into its larger technology support platform.
Celero is not disclosing the acquisition’s purchase price, Scott Farace, Celero chief marketing officer, wrote in an email to WBJ.
PPS partners with merchants throughout the Northeast, including Flynn’s Truck Plaza and Al's Oil Service, both in Shrewsbury, New York-based Mirabito Energy Products, and Vermont-based Roberts Energy.
DPS employs between one and 10 workers, according to company financial tracker Crunchbase.
“By combining our established expertise in grocery and convenience, and now PPS’s specialized fuel and pay-at-the-pump capabilities, we are uniquely positioned to deliver integrated, purpose-built solutions that enable partner banks, strategic partners, and merchants to compete and lead in the fuel, convenience, and grocery sectors,” Abigail Berard, chief of staff for corporate development at Celero, said in the release.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
