Paysafe has agreed to acquire Income Access for C$40 million (€27.4 million/US$30.5 million).
Under the agreement, Paysafe subsidiaries will purchase the Income Access business from EcomAccess, IA Digital Marketing and its shareholders, as well as certain software and related intellectual property from Share Results.
An amount of C$28 million of the purchase price is payable in cash upon completion, with the deferred balance of C$12 million payable to vendors in three equal instalments of C$4 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,” Paysafe president and chief executive Joel Leonoff said.
“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.”
Nicky Senyard, founder and chief executive of Income Access, who will remain as managing director of the business, added: “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.”
Meanwhile, Income Access has entered into an affiliate management partnership with VGambling.
Under the deal, VGambling, an online gambling firm that offers e-sports betting services, will integrate Income Access’ affiliate management platform and Ad Serving tool to manage its forthcoming affiliate programme.
The programme will support the launch of the VGambling in the fourth quarter of this year, with the company to offer a range of e-sports betting options.
VGambling utilises affiliate management software from Income Access to power the programme, with additional backing from the Ad Serving tool, which will allow the firm to target ad campaigns according to players’ geo-location, device, language and various other criteria.
Grant Johnson, chief executive of VGambling, said: “We are confident affiliates will be as excited as we are when they discover that we’ll be using the Income Access platform to manage our affiliate programme.”