Cromwell-based Payveris has agreed to be acquired by a financial technology company based in Washington state in a deal valued at $152 million.

Redmond, Washington-based Paymentus Holdings Inc., which provides a cloud-based bill payment platform and network, said in a statement today that it has signed a definitive agreement to acquire Payveris. The transaction has been approved by the boards of both companies and is expected to close in the third quarter, the statement said.

The $152.2 million deal will be paid with approximately 56 percent in cash and 44 percent in Paymentus Class A common stock.

Paymentus provides billing services for more than 1,300 customers in North America and also partners with other companies to connect their payments platforms through its proprietary Instant Payment Network.

Payveris’ MoveMoney Platform is used by more than 265 banks and credit unions. The company recently added a peer-to-peer payment service to the platform.

“For consumers, the combination of Paymentus and Payveris will simplify money management by providing enhanced control, faster payments and greater transparency when paying bills and moving money from any account to any end point,” the statement said. “Banks and credit unions will benefit through improved consumer engagement and bill pay economics.”

After the acquisition closes, Payveris’ bank and credit union clients will have access to the Instant Payment Network. Clients that service loans will also be able to use Paymentus’ omni-channel bill presentment and payment platform for their loan payment operations, the statement said.

The deal will also let Payveris’ bank and credit union clients offer the Paymentus billing platform to their business and commercial clients.

“Paymentus is the perfect home for Payveris,” Payveris CEO Ron Bergamesca said in the statement. “The companies have strong cultural and strategic alignment and highly complementary technologies that, when combined, create a real-time payment network connecting consumer accounts at their financial institutions and their billers. This network will be the foundation for delivering rapid digital payment innovation to financial institutions.”

Paymentus said its clients were expected to gain from the acquisition as well. Customers will soon have the ability to view bills and make real-time payments at the banks and credit unions that use Payveris’ platform, the statement said.

“We started our relationship with Payveris as a multi-faceted partnership and it quickly became apparent that their technology and team are best-in-class and would be incredibly additive to our platform and mission,” Dushyant Sharma, Paymentus’ president and CEO, said in the statement. “This acquisition not only accelerates our ability to disrupt the legacy bill pay paradigm, but also helps us deliver greater value to our billers, strategic partners and financial institutions. We are looking forward to having the Payveris team join Paymentus’ fast growing team.”