Jack Henry & Associates acquired Victor Technologies, an API-first provider of direct-to-core embedded payments solutions, from MVB Financial in Fairmont, W.Va.
MVB said in a press release that the sale should generate a $33 million pretax gain. Victor was created in 2021 and incubated within MVB.
MVB said the sale gives it more flexibility to pursue balance sheet and capital management strategies, which could include repositioning its securities portfolio or share repurchases.
The sale “validates our thesis that MVB can create substantial shareholder value by building world-class fintech solutions,” Larry Mazza, MVB’s president and CEO, said in the release. “We’ve taken Victor from concept to processing billions in monthly payments, and now we’re positioning it for strong growth through Jack Henry’s resources — while maintaining our strategic partnership.”
“This acquisition advances our technology modernization strategy to help banks and credit unions compete and win through innovative, cloud-native solutions,” Greg Adelson, Jack Henry’s president and CEO, said in a separate press release. “Offering a proven, high-volume embedded payments platform that is highly scalable creates diverse revenue streams, enhances our capabilities, and provides more immediate opportunities to deliver emerging services like stablecoin.”
Jack Henry said it expects the purchase to be minimally dilutive to its earnings per share for the rest of fiscal 2026 and fiscal 2027.
MJC Partners and Squire Patton Boggs advised MVB. Stinson advised Jack Henry.