FTSE-listed online payment provider Paysafe Group (Paysafe) has confirmed the acquisition of leading industry affiliate and acquisition marketing software provider Income Access for a cash consideration of CAD $40 million (circa $30 million).
Updating the market this morning, Paysafe governance declared that it had agreed to buy the Montreal-based marketing solutions provider, which currently services more than 25,000 industry affiliates.
Detailing its deals structure, Paysafe will acquire all Income Access syndicated products/assets paying an initial CAD $28 million cash. Once integrated, Income Access will receive the outstanding CAD $12 million in three separate instalments over an 18-month period.
Updating investors on Paysafe’s latest acquisition CEO Joel Leonoff commented
“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,”
Founded in 2002 by industry marketing veteran Nicky Senyard, Income Access is the leading affiliate and player acquisition marketing software used by the majority of tier 1/2 betting operators.
Senyard commented on the sale of Income Access “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.” Senyard will remain with the business as Managing Director.