Muncie-based Ontario Systems, a software provider specializing in revenue collections, has acquired Katabat, a cloud-based debt collection platform for lenders and borrowers, based in Delaware. Financial terms of the deal are not being disclosed. This is the second acquisition this year for Ontario Systems, which acquired New York-based Pairity in February.
Ontario Systems says more than 600 hospital networks use its software to streamline the billing process. The technology is also used by government agencies. Ontario says Katabat has grown its customer base to include entities ranging from international banks to digital consumer finance companies
“We see the Katabat acquisition as reinforcing our ambitious strategic growth plan by allowing us to serve a more expansive portion of the accounts receivable market,” said Ontario Systems CEO Tim O’Brien. “We are delighted to welcome Katabat’s impressive customer base into the Ontario family and are committed to driving value for them by providing innovative solutions to address their business challenges.”