TBK - TriumphPay inks agreement to acquire HubTran for $97M

Triumph Bancorp's (TBK) division, TriumphPay, acquired HubTran, a cloud-based provider of automation software for the transportation industry's back-office.As per the terms, TriumphPay will pay $97M in cash subject to customary purchase price adjustments.The acquisition is subject to closing conditions and necessary approvals and is expected to close in Q2'21."Combining TriumphPay and HubTran will allow us to create a fully integrated payments network for transportation servicing brokers and factors," said TriumphPay CEO Jordan Graft.

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TriumphPay inks agreement to acquire HubTran for $97M