De Palma Group acquired by EFC Systems

Hudson-based payment transaction processors The De Palma Group has been acquired by EFC Systems of Nashville for an undisclosed about of cash and stock.

The De Palma Group specializes in treasury and payment management solutions including ACH/electronic check, PIN-based debit transactions, bill pay debit transactions, Check 21/remote deposit capture and gift card transactions.

The De Palma Group’s operations will be assumed into EFC’s banking division, and CEO Larry De Palma will assume the role of executive vice president of EFC Systems. He will head EFC’s banking division, overseeing product management, sales and marketing, client relations and professional services. – CINDY KIBBE