Paysafe has agreed to the acquisition of Income Access from EcomAccess, IA Digital Marketing and its shareholders.
Canada.- Paysafe subsidiaries will purchase the Income Access business from EcomAccess, IA Digital Marketing and its shareholders and software and related intellectual property from Share Results.
An amount of €19 million of the purchase price is payable in cash upon completion, with the deferred balance of €8 million payable to vendors in three equal instalments of €2.72 million over the 18-month period following completion.
“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,” said Joel Leonoff Paysafe president and chief executive. “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.”
“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,” added Nicky Senyard, founder and chief executive of Income Access, who will remain as managing director of the firm.