Internationally recognized major provider of payment solutions Paysafe today announced the acquisition of Canadian affiliate technology company Income Access for a total cash consideration of C$40 million.
Founded in 2002 and headquartered in Montreal, Canada, Income Access has been providing affiliate technology to international gambling operators with the purpose of assisting the latter in the operation of their affiliate programs. What is more, over 25,000 affiliates from all around the world use Income Access’ marketing software across multiple channels.
Paysafe said in a statement from today that the acquisition comes as part of the company’s strategy to expand its product capabilities. The payment solutions provider is best known for managing NETELLER and Skrill, two of the world’s most widely preferred payment methods not only within the gambling industry but also across other areas.
As mentioned above, Paysafe will pay a total consideration of C$40 million for Income Access. The amount of C$28 million will be paid to shareholders upon the transaction’s completion. The remaining consideration balance will be paid in three C$4-million installments within an 18-month period after the deal’s closure.
Commenting on today’s announcement, Paysafe President and CEO Joel Leonoff said that through their latest acquisition, they will be able to further deepen their relationships with merchants. In addition, the transaction comes as part of the company’s strategy to provide clients with products that correspond to their evolving needs.
Lorenzo Pellegrino, Paysafe Divisional CEO, who is also in charge of the Group’s NETELLER and Skrill brands, commented that they have always been looking to enhancing their product offering’s breadth and that Income Access’ industry expertise will certainly help them deliver on their strategy, expand their international affiliate network, and further enhance their relationship with merchants.
Of her company being purchased by Paysafe, Income Access CEO and Founder noted that their technology and affiliate network is a perfect match for the payment solutions provider’s product offering and that their combination would result in numerous benefits for both existing and new clients. Ms. Senyard will remain with Income Access as the company’s Managing Director.
