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I3 Verticals ( (IIIV) ) has shared an announcement.
i3 Verticals has successfully completed the sale of its merchant services business to Payroc for roughly $438 million in cash, marking the company’s strategic shift to focus on software solutions for the Public Sector and Healthcare verticals. Coupled with this divestiture, i3 Verticals announced executive shifts, appointing Geoff Smith as the new Chief Financial Officer and Clay Whitson as the Chief Strategy Officer, roles in which they will spearhead capital allocation, M&A, and investor relations, thereby strengthening the company’s leadership and strategic direction.
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