Finextra
GoDaddy Inc., the company that empowers everyday entrepreneurs, today announced it has entered into a definitive agreement to acquire Poynt. Under the terms of the agreement, GoDaddy will pay $320 million in cash at closing and $45 million in deferred cash payments subject to certain performance and employment conditions over three years. The transaction is expected to close in the first quarter of 2021, subject to the satisfaction of regulatory approvals and other customary closing conditions.
“Commerce is critical to our customers and we continue to invest in building seamlessly intuitive experiences that enable small businesses to sell everywhere,” said GoDaddy CEO Aman Bhutani. “Poynt accelerates our strategy to provide a complete suite of commerce and payment services to address this critical customer need and focus on a large addressable market opportunity. We’ve built leading e-commerce capabilities that today allow small businesses to easily sell on their sites, across major marketplaces and the most popular social networks, and now we will help make them successful everywhere.”
Source
Want updates like this delivered weekly?
TransactionWatch is a weekly newsletter covering the most important and relevant merchant acquiring M&A activity. This first-of-its-kind newsletter was developed for the world’s cutting-edge payments executives. See an example edition.
How Do I Sign Up?Click here to visit the TransactionWatch landing page and complete the subscription form. You will receive a confirmation email and begin to receive TransactionWatch every Friday.
The post GoDaddy acquires Poynt for $320 million in cash appeared first on The Strawhecker Group.