Paysafe bolsters portfolio with Income Access acquisition
Digital payments provider will pay £23m for the egaming affiliate marketing company
Payment solutions provider Paysafe has expanded its product portfolio with the acquisition of egaming affiliate marketing firm Income Access for CA$40m (£23m), it was announced today.
The deal will see Paysafe acquire Income Access from EcomAccess, IA Digital Marketing and their shareholders for $28m (£16.2m) in cash, as well as a deferred consideration balance of $12m (£7m) payable over an 18-month period.
Montreal-based Income Access was founded in 2002 and is one of the egaming industry’s leading affiliate software companies, providing technology for businesses to manage their performance marketing programmes.
“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,” Income Access founder and CEO, Nicky Senyard, said.
Senyard will also remain with the business as managing director following the deal.
Paysafe was rebranded from Optimal Payments last year following its 1.1bn acquisition of rival Skrill and its brand portfolio also includes NETELLER, paysafecard, payolution and FANS Entertainment.
Paysafe president and CEO Joel Leonoff said: “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.”
Paysafe recently reported a 118% year-on-year increase in H1 2016 revenue to $487m, up from $223m last year, while adjusted EBITDA increased 189% to $144m.