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April 17, 2021TransactionWatch

TransactionWatch – Week of April 12th – April 16th

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The second quarter picks up steam as several acquisitions arise this past week in the merchant acquiring industry. To start, Nuvei announced today (April 16th) that they have entered into a definitive agreement to agree Mazooma Technical Services, a payments technology provider focused in gaming and sports. Nuvei will pay approximately $56 million for this deal, plus an additional consideration of up to $259 million subject to Mazooma’s performance over a three-year period. With this acquisition, Nuvei is able to expand their range of alternative payment methods for their U.S. gaming client base through Mazooma’s ACH platform which is expected to facilitated over $2 billion in volume this year.

In other M&A news, DocuPhase announced this week their acquisition of Clearwater Payments for an undisclosed sum. Clearwater Payments is an ISO focused on electronic billing for enterprise clients in banking, insurance and utilities. With this acquisition, DocuPhase is able to grow its product platform in the AP automation marketplace. Separately, Tipalti has acquired Approve.com, a cloud-base procurement solutions provider, for an undisclosed sum. This acquisition of Approve.com enables Tipalti to expand its complimentary portfolio of financial offerings in the AP automation space. This transaction is expected to close in early Q2 2021.

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