Business

GoDaddy inks USD365 mn deal to buy out payment processor Poynt

GoDaddy has signed a pact to acquire California-based payments processor Poynt in a $365 million deal which includes $320 mn in cash at closing and $45 mn in deferred cash payments subject to certain performance and employment conditions over three years.

migrator

San Francisco

The acquisition will help the Internet names and registrations management major to expand commerce services with integrated payments. The transaction is expected to close in the Q1 of 2021, GoDaddy said.

“Commerce is critical to our customers and we continue to invest in building seamlessly intuitive experiences that enable small businesses to sell everywhere,” GoDaddy CEO Aman Bhutani, said. “Poynt accelerates our strategy to provide a complete suite of commerce and payment services for this critical customer need and focus on a large addressable market opportunity.”

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