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December 18, 2020TransactionWatch

TransactionWatch – Week of December 14th – December 18th

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Activity remains resilient on the M&A front as we inch closer towards the new year. This week consisted of various deals within the merchant acquiring industry including Fiserv’s announcement to acquire Ondot Systems, a digital experiences platform for financial institutions. Ondot’s platform handles more than one billion transactions a month from over thirty million cards. Fiserv plans to further develop Ondot’s platform and offer its digital suite of products to its client base of financial institutions. Financial terms of this transaction were not disclosed, and the deal is expected to close in Q1 of 2021.

GoDaddy announced their intention to acquire Poynt for $320 million in cash at closing and up to $45 million in deferred payments dependent on certain performance conditions over a three-year period. Poynt has a customer base of more than 100,000 merchants who process over $16 billion in annual gross merchandise volume. This acquisition by GoDaddy further demonstrates the growing focus towards omnichannel solutions as the company will now have a foothold in the POS market in addition to their online services.

In other M&A news, Worldline announced their majority investment in ANZ Bank’s Commercial Acquiring unit. Worldline will now take a 51% controlling stake in the unit, which they acquired for a total consideration of approximately $365 million.

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