GoDaddy announced the acquisition of payment company Poynt for $320 million in cash.

GoDaddy, a Scottsdale, Arizona-based website hosting leader, said on Tuesday afternoon that it would buy privately held company Poynt for $320 million in cash to increase its business service portfolio. The characteristic of this transaction is that poynter will receive an additional compensation of $45 million on the premise of meeting the performance and employment conditions within three years.

It is reported that Poynt Company was founded on 20 13 and headquartered in Palo Alto, California, which mainly provides payment processing services, including contactless in-store terminals and online and telephone payment acceptance technologies.

Aman Bhutani, CEO of GoDaddy, said that the acquisition will accelerate the development of GoDaddy, thus providing customers with a whole set of business and payment services to meet this key customer demand and focusing on a huge solvable market opportunity. GoDaddy said that at present, more than 654.38 million merchants use Poynt software, including1600 million dollars of annual business volume.

Bhutani said: "We have established leading e-commerce functions. Nowadays, small businesses can easily sell on their own websites, major markets and the most popular social networks. Now, we will help them succeed anywhere. "

The company said that Poynt's payment will be integrated into GoDaddy's web hosting, marketing and Wordpress services. The company said that Osama Bedier, CEO of Poynt, will join the GoDaddy team and report to Bhutani as the head of the newly established business unit.

Announcement:

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