Paysafe Group (Paysafe), TSE-listed online payment provider has confirmed the agreement to acquire Income Access, the leading industry affiliation and acquisition marketing software for CAD$40 million (US$30.5 million/€27.4 million)
Announcements were made this morning that the Montreal-based marketing solution provider Income Access and all their syndicated products/assets which currently services more than 25,000 industry affiliates will be bought over by the Paysafe Group.
Under the agreement, paysafe will acquire Income Access from EcomAccess, IA digital Marketing and its shareholders with an agreement to pay CAD $28 million cash upfront with the outstanding CAD $12 million to be paid off in three separate installments within an 18-month period.
Updating investors on Paysafe’s latest acquisition CEO Joel Leonoff had this to say:
“By adding Income Access’s affiliate technology to our product suite alongside our Skrill and NETELLER brands and deepening our merchant relationships, this transaction delivers on Paysafe’s strategic objectives to provide relevant payment solutions that serve the evolving needs of our merchants.
“Income Access is an excellent fit for our business. This acquisition will help to extend our leadership position in niche-orientated payment solutions as we add value for our merchants and redefine the role of a payments provider,”
Marketing Veteran Nicky Senyard, Chief Executive of Income Access who founded the company in 2002 will remain on as the Managing Director of the business.
He stated “Our technology and global affiliate network, combined with Paysafe’s comprehensive payments offering, creates a winning combination for the benefit of our existing and new partners.”