Vantiv (formerly Fifth Third Processing Solutions) is one of the leading payment acceptance services companies for businesses in US.
In June 2009, Advent partnered with Fifth Third Bancorp to establish a joint venture from Fifth Third’s merchant acquiring and financials institutions processing business.
Processing over $292 billion in debit and credit card sales, the business, valued at $2.35 billion at inception, supports 171,000 locations and 11,000 ATMs in 44 states and 11 countries. Its owner, Fifth Third Bancorp, will retain a 49% stake in the business, while Advent is purchasing a 51% interest.
Advent will focus on accelerating the growth of the business through additional investments and leveraging its international infrastructure to expand Vantiv.