Continuing its spree of acquisitions in 2021, Ontario Systems yesterday announced it had purchased Katabat, the maker of a collection software platform. Terms of the deal were not disclosed. The deal marks the second for Ontario Systems this year and the third in the past 18 months, following the acquisition of Pairity earlier this year and payment processor SwervePay last year.
All three acquisitions were spearheaded by Tim O’Brien the Chief Executive of Ontario Systems, who joined the company in February 2020.
“As we grow and evolve as a company, we want to continue identifying smart ways to expand upon the value we bring to both our customers as well as our teams,” said O’Brien in a statement. “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. 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.”
For Ontario Systems, the acquisition opens the door into the first-party collection market, which Katabat had been focusing on for the past couple of years. Katabat was owned by Tritium Partners and Terminus Capital Partners, which invested in the company last August.
Earlier this year, Katabat announced it had acquired Simplicity Collection Software. It was not immediately clear whether the Simplicity platform was part of Ontario’s acquisition of Katabat or if that would stay with the Tritium and Terminus.
“We are incredibly excited to join Ontario,” said Katabat Chief Executive Ray Peloso. “Their decades-long position as the collections industry leader coupled with their established history of helping customers attain bold business outcomes provides the perfect point from which to expand the reach of the innovative work we have been doing at Katabat.”