Elavon, the 12th largest merchant acquirer worldwide, will sell its acquiring operations and customer relationships in Mexico to Santander in a transaction expected to close this quarter. Terms were not disclosed. Elavon employees in Mexico will become employees of Santander. Santander and Elavon have been merchant acquiring partners in Spain, the U.K., and Puerto Rico. The joint venture in Spain, which was established in 2012, reverted to 100% ownership to Santander in 2017. Their U.K. partnership continues. Elavon is the acquirer. The companies signed a 5-year contract extension in the fo...