Huntington National Bank’s Acquisition of Digital Payments Torana

Wachtell, Lipton, Rosen & Katz represented Huntington in the transaction.

Huntington National Bank, a subsidiary of Huntington Bancshares, Incorporated (Nasdaq: HBAN) announced it has acquired Digital Payments Torana, Inc., a business-to-consumer payments fintech based in San Francisco.  

Torana’s digital payments solution, which will launch as Huntington ChoicePay, will further enhance Huntington’s digital capabilities and advance Huntington’s enterprise payments strategy.

Torana’s payment solution is a software as a service (SaaS) model built in the cloud and will enable Huntington and its clients to distribute digital payments to a variety of end users.

Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $177 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle-market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates more than 1,000 branches in 11 states, with certain businesses operating in extended geographies.

Wachtell Lipton’s team was led by Partner Nicholas G. Demmo and included Sabrina Khan, Associate (Corporate), David E. Kahan, Partner, Raquel V.L. Begleiter, Law Clerk (Executive Compensation and Benefits), Joshua M. Holmes, Partner (Tax).

Involved fees earner: Nicholas Demmo – Wachtell, Lipton, Rosen & Katz; Joshua Holmes – Wachtell, Lipton, Rosen & Katz; David Kahan – Wachtell, Lipton, Rosen & Katz; Sabrina Khan – Wachtell, Lipton, Rosen & Katz;

Law Firms: Wachtell, Lipton, Rosen & Katz;

Clients: Huntington National Bank;