SOURCE: Heartland Payment Systems
PRINCETON, NJ--(Marketwire - Jan 7, 2013) - Heartland Payment Systems (NYSE: HPY), one of the nation's largest payments processors, has expanded its Heartland Payroll Services business by acquiring Ovation Payroll, a leading U.S. payroll outsourcing company that offers payroll tax preparation and administration, Internet payroll reporting, direct deposit, and other services.
Headquartered in Rochester, N.Y., with six additional locations nationwide, Ovation Payroll serves nearly 10,000 clients in 48 states and is listed on the Inc. 5000 list of America's Fastest Growing Companies. Heartland will retain Ovation's nearly 150 employees as well as its executive leadership.
In addition to being an important element in Heartland's strategic growth plan for Heartland's payroll business, the acquisition immediately brings aboard additional veteran payroll industry leaders, as well as a highly developed Affinity Partner network to provide high quality sales leads that can be leveraged throughout the Heartland sales force. The acquisition also provides immediate scale to more quickly leverage platform and operating costs while further enhancing Heartland's product and service offerings to merchants in virtually all markets in which Heartland conducts business.
"Integrating Ovation Payroll within Heartland will allow us to further market the advantages of being the only large, public, highly service-oriented, merchant advocate payroll provider offering three-year price lock agreements," said David Gilbert, president, hospitality group, Heartland Payment Systems. "While our consolidated payroll business will now service more than 22,000 clients with the combination of our talented management teams, our powerful sales forces and our great Affinity Partners, we are excited about the opportunity to accelerate our growth. As the industry's only all-inclusive provider and merchant advocate offering guaranteed pricing, Heartland will further help merchants save money and increase productivity by being one partner that bundles an enhanced payroll service platform with payments processing and other solutions. With the addition of Ovation, we also gain a distribution channel into new markets."
Tony Tortorella, president and CEO of Ovation Payroll, added, "I speak for my executive team and all our employees when I share our enthusiasm about becoming a part of Heartland Payment Systems. Over the last three years, we've expanded our national footprint, as well as our payroll and HR services, to become one of the leading payroll providers in the country. By integrating our services, technology and sales teams with an industry leader like Heartland, employers across the country will benefit from the most competitive payroll solutions currently on the market today."
Heartland Payroll Services offers complete, customizable payroll processing solutions, all-inclusive pricing guaranteed for three years, U.S.-based payroll specialists, 100 percent web-based solutions for anytime, anywhere management, an easy-to-use employee self-service portal and a paperless solution with standard direct deposit and prepaid card options. More information can be found at Heartland Payroll Services.
About Heartland Payment Systems
Heartland Payment Systems, Inc. (NYSE: HPY), the sixth largest payments processor in the United States, delivers credit/debit/prepaid card processing, school solutions, loyalty marketing services, campus solutions, payroll solutions, and related business solutions and services to more than 250,000 business and education locations nationwide. A FORTUNE 1000 company, Heartland is the founding supporter of The Merchant Bill of Rights, (MerchantBillofRights.org), a public advocacy initiative that educates merchants about fair credit and debit card processing practices. The company is also a leader in the development of end-to-end encryption technology designed to protect cardholder data, rendering it useless to cybercriminals. For more detailed information, visit HeartlandPaymentSystems.com or follow the company on Twitter @HeartlandHPY and Facebook at facebook.com/HeartlandHPY.
This press release contains statements of a forward-looking nature which represent our management's beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including risks and additional factors that are described in the Company's Securities and Exchange Commission filings, including but not limited to the Company's annual report on Form 10-K for the year ended December 31, 2011. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.