Pittsburgh-based PNC Bank (NYSE: PNC) is acquiring Tempus Technologies Inc. in Auburn. The bank says Tempus Technologies, which is a payment gateway provider, will expand PNC Treasury Management’s payments platform and enable clients to manage payables and receivables through a single channel.
PNC says Tempus Technologies will retain its president, Jason Sweitzer, as well as its existing management team and employees. Tempus is expected to continue to operate out of Auburn.
“This acquisition demonstrates our ongoing commitment to investing in our Treasury Management products and solutions by further expanding our payments capabilities,” said Mike Lyons, executive vice president and head of PNC Corporate & Institutional Banking. “Leveraging Tempus Technologies patented solutions and our existing industry-leading Treasury Management platform, we will provide our clients with convenient, immediate and secure payments options based upon their business’ individual needs.”
Tempus Technologies’ provides mobile payments apps, payment portals, and web services, among others. Additionally, the bank says Tempus Technologies solutions will be integrated with PNC’s existing payments platforms.
Financial terms of the deal were not disclosed.