Commerce Online Inc. has signed a letter of intent to acquire Merchant Resource Association Inc., owner of TenderCorp LLC, a provider of stored value and gift and loyalty card programs.
Terms were not disclosed.
Under the proposed deal, MRA would become a wholly owned subsidiary of Commerce Online.
Following the closing of the transaction, Commerce Online said it expects to emerge as a holding company with a focus on the acquisition of merchant transaction and credit card processing divisions.
The transaction is slated to close July 31.
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