Financial Information Technologies LLC, also called “Fintech,” a leading provider of business management solutions to beverage alcohol retailers and distributors in Florida, has recently made its first acquisition move with the purchase of Lilypad Solutions LLC, a software company provider for beverage alcohol services also based in Florida.
In a released statement, Fintech President, Tad Phelps, expressed his delight with the acquisition. Mentioning Lilypad’s quality services and vigorous list of clients, combining with his company’s remarkable credentials, Phelps is confident that this will allow both companies to provide vital solutions to the alcohol industry. The CEO also noted that this move further confirms Fintech’s commitment to its clients and that this will serve as a foundation for both companies to grow and come up with more innovative products, as well as other strategic ideas.
As reported by PR Newswire, Lilypad’s acquisition is a first for Fintech and was finalized in the first quarter of the year. Established in 2014, Lilypad Solutions has since then worked with hundreds of suppliers and distributors by serving as an effective sales platform. Fintech, on the other hand, prides itself with decades of industry experience. In 1991, it created the first electronic payment device for alcohol purchasing and since then, expanded to grant clients with advanced and effective alcohol management services.
Eric Rabinovitz, CEO of Lilypad Solutions, expressed their team’s joy in continuing their services alongside Fintech. “Together, we will accelerate our existing platform’s growth while delivering new technologies that improve the way our clients operate in a hyper-competitive market,” he explained.
As of today, the terms of the deal between the two companies were not yet disclosed. However, both are confident that this move will allow them to further expand and arrive at innovative ideas that will surely top the market.