Jack Henry to acquire Victor Technologies from MVB Financial

Jack Henry & Associates (JKHY) announced the acquisition of Victor Technologies, a cloud-native, API-first provider of innovative direct-to-core embedded payments solutions, from MVB Financial (MVBF). The acquisition expands Jack Henry’s capabilities in the rapidly growing Payments-as-a-Service, or PaaS, market, in which financial institutions embed payment services into third-party, non-bank brands. The addition of Victor, which processes billions of dollars in payments monthly, provides Jack Henry’s financial institution clients with enhanced capabilities to serve fintechs and commercial customers, grow deposits, and diversify revenue. The PaaS market is expected to grow from $19.1B in 2025 to $43.9B in 2029 at a compound annual growth rate of 23.1%, according to Research and Markets. Victor is already integrated with Jack Henry’s SilverLake core bank system and JHA PayCenter. Terms of the transaction were not disclosed. Jack Henry expects the acquisition to be minimally dilutive to GAAP EPS for the remainder of FY26 and FY27 and become accretive in FY28.