NMI, a full commerce enablement technology company, has acquired Sphere’s commercial division, enhancing NMI’s underwriting and risk management capabilities. This acquisition allows NMI partners to create merchant accounts within their platform, offering increased payment flexibility to merchants.
This acquisition comes on the heels of NMI’s deal to acquire Agreement Express’s payments solutions in December 2022.
NMI will bring on employees from Sphere’s commercial division and retain its office in Irving, Texas. Tom Bannon, COO and President of Sphere’s commercial division, will join the NMI leadership team as senior vice president. Terms of the acquisition were not disclosed
