Australis Capital Announces Intent To Acquire Paytron Financial Service

Australis Capital Inc AUSA AUSAF announced it has entered into a non-binding letter of intent to acquire Paytron, an omnichannel payment service provider, which will continue its operations as a subsidiary.

Paytron, founded in 2015, offers services such as credit and debit card processing, secure gateway processing, point of sale hardware, card terminals and business loans. After the completion of the acquisition, Paytron will continue to operate as an ISO and become the payment branch for Cocoon Technology, a subsidiary of AUSA.

AUSA operates and builds differentiated cannabis companies predominantly in the United States. "AUSA adheres to stringent evaluation and operating criteria focusing on high-quality opportunities while maintaining a steadfast commitment to governance and community," the company says.

Marc Ruben will join AUSA as Vice President, contributing with his experience in building strategic partnerships and large National and Regional Sales Teams. Formerly working at America Merchant Services, Sun Trust Merchant Services and First Data Canada over the past 20 years.

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"Through our acquisition of Paytron and the addition of Marc Ruben and his team, Cocoon Technology will be positioned to bundle self-service technology, payment processing technology and ISO referral networks across North America," said Cleve Tzung, SVP, M&A at AUSA. "These existing relationships will aid in the growth of Cocoon Technology sales while providing dispensaries with an even more robust self-service solution."

The letter of intent is non-binding and the completion of the acquisition is subject to customary closing conditions.