Minneapolis-based Deluxe to buy Celero for $625M
Minneapolis-based Deluxe Corp. agreed to buy fintech firm Celero Commerce for $625 million, with closing targeted for the third quarter of 2026 in a deal to expand its payments and data operations.[1]
Deluxe said it will fund the purchase with its existing revolver plus $375 million from a five-bank syndicate led by Bank of America Securities.[1] After the deal, payments and data are expected to account for about 57% of Deluxe's 2026 pro forma revenue, versus print's 53% share of $2.1 billion in 2025 revenue.[1]
Barry McCarthy was named president and CEO of Deluxe in November 2018. Under his leadership the company shifted resources from legacy check-printing toward payments and data and pursued acquisitions to scale those businesses. In April 2021 Deluxe acquired First American Payment Systems for $960 million, its largest deal to date. Celero was founded in late 2018 by Kevin Jones and grew through a string of purchases to reach $189 million in revenue in 2024. Deluxe processed more than $2 trillion in annual payment volume as of 2025, and its Merchant Services segment generated $398.6 million in revenue that year.
The mainstream summary does not address the broader context of the fintech industry's growth, which is driven by strong consumer demand for digital payments and online banking services. This demand has enabled small and medium-sized enterprises (SMEs) to expand and innovate, highlighting the significance of Deluxe's acquisition of Celero within this rapidly evolving landscape. According to the World Economic Forum’s 2024 Future of Global Fintech report, this consumer shift is a key factor behind the growth of fintech, suggesting that Deluxe is strategically positioning itself to capitalize on these trends.
Additionally, while the summary mentions Deluxe's shift from traditional check-printing to payments and data, it does not fully capture the implications of this transition. The decline of paper check usage, which has dropped by 83% since 2000 due to technological advancements and changing consumer preferences, underscores the urgency for companies like Deluxe to adapt. The consolidation within the payments industry, driven by low margins that necessitate high transaction volumes for profitability, further emphasizes the strategic importance of this acquisition for Deluxe's future growth and sustainability in a competitive market.[2][3]
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📊 Relevant Data
Deluxe processes more than $2 trillion in annual payment volume across its businesses.
Deluxe Corporation investor relations and SEC filings — Deluxe Corporation
Deluxe's Merchant Services segment generated $398.6 million in revenue in 2025.
Deluxe Corporation Fourth Quarter and Full-year 2025 Financial Results — Deluxe Corporation
📌 Key Facts
- Deluxe Corp. agreed to buy Celero Commerce for $625 million, with closing targeted for Q3 2026.
- Deluxe will finance the deal using its existing revolver plus $375 million from a five‑bank syndicate led by Bank of America Securities.
- Post‑deal, payments and data are expected to make up 57% of Deluxe’s 2026 pro forma revenue, versus print’s 53% share of $2.1 billion in 2025 revenue.
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