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Springbrook Software Acquires Merchant Transact

Portland-based cloud software developer Springbook Software has acquired merchant services provider Merchant Transact, in an asset and technology deal. Financial terms of the acquisition were not announced. According to Springbrook, it has taken possession of all assets required to operate and process electronic credit cards and checks from Merchant Transact, which will help it provide electronic payment services to local government agencies. Springbrook's cloud-based software is used for fund accounting and utility billing for local government, utilities and special districts.


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