Mergers and Acquisitions, Mergers and Acquisitions, Content, Vertical markets

Payroc Acquires POS Solutions Provider Detrok Technology

Chicago-based payment processing company Payroc LLC has acquired Detrok Technology Services, a Chicago-based IT solutions provider focused on point of sale (POS) systems for restaurants.

Detrok owner James Derby joins Payroc
Detrok owner James Derby joins Payroc

The deal enhances Payroc’s position in the hospitality industry while giving it access to technology solutions and related services that could benefit restaurant establishments, the company said.

Founded in 2003, Detrok’s key partners include Epson, Star, Dell, ELO, and Aldelo. The company has used its point of sale (POS) expertise to help facilitate the opening of over 250 new restaurants.

Detrok’s background plays well into Payroc’s past M&A plays in companies specializing in ecommerce systems for merchants. In February 2018, the firm also acquired Integrity Payment Systems, LLC, a full-service processor and acquirer. That deal led to what the company called a “significant” expansion of its payments business.

Payrok Acquires Detrok: Executive Perspectives

Matt Austin, COO for Payroc, said of the company’s strategy:

“Payroc is focused on growing, both organically and through acquisitions. We are dedicated to expanding and enhancing our offerings and sales channels. For this reason, Detrok Technology Services is a natural fit for our business and we are pleased to welcome them to the company.”

Many restaurants in the region use Detrok’s technology solutions and services, according to Payroc. The services provided include point-of-sale, payment processing, loyalty, gift card, menu and inventory management, security, employee scheduling and payroll needs and more.

Detrok owner James Derby will join Payroc to help grow its point-of-sale offerings and footprint, the company said.

The Detrok brand will be phased out in the coming months and transition to Payroc.

Retail Technology Market

The retail sector, like many vertical markets, has been seeing massive disruption of late. Amazon Web Services has been putting increasing pressure on retailers and their channel partners, who are simultaneously struggling with cloud and mobile challenges.