Jack Henry & Associates, Inc. (JKHY) announced Wednesday the acquisition of Victor Technologies, Inc., a cloud-native, API-first provider of innovative direct-to-core embedded payments solutions, from MVB Financial Corp. (MVBF). Terms of the transaction were not disclosed.
The acquisition expands Jack Henry's capabilities in the rapidly growing Payments-as-a-Service (PaaS) market, in which financial institutions embed payment services into third-party, non-bank brands.
The addition of Victor, which processes billions of dollars in payments monthly, provides Jack Henry's financial institution clients with enhanced capabilities to serve fintechs and commercial customers, grow deposits, and diversify revenue.
The PaaS market is expected to grow to $43.9 billion in 2029 from $19.1 billion in 2025 at a compound annual growth rate (CAGR) of 23.1%, according to Research and Markets.
Victor is already integrated with Jack Henry's SilverLake core bank system and JHA PayCenter. Jack Henry plans to expand Victor's capabilities to serve its Symitar credit union and Treasury Management platform clients, and integrate directly with the new, cloud-native Jack Henry Platform.
Jack Henry expects the acquisition to be minimally dilutive to earnings per share for the remainder of fiscal 2026 and fiscal 2027 and become accretive in fiscal 2028.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.