Start New Year with great news! GoDaddy, the world’s largest domain name registrar, is buying Poynt to enter the commerce services market with offline sales and integrated payments. GoDaddy will pay $320 million in cash at closing and $45 million in deferred cash payments over three years.
For the last seven years, Poynt has been working to create the most advanced commerce platform. The company has developed and patented Android-based smart POS-terminals and third-party terminals powered by PoyntOS. Poynt also provides software for mobile applications and software for POS and virtual terminals.
Also, Poynt offers a range of payment processing models for small businesses, including integration with 16 different payment processors, including the top five US banks, and Poynt Payments in the United States, built in partnership with Elavon / US Bank.
After the acquisition, Poynt CEO Osama Bedier will join GoDaddy’s management team to lead a new commerce division that creates the most intuitive commerce experience for small businesses.
For SPD-Ukraine, this acquisition opens potential opportunities to work on new projects for GoDaddy. We expect the official closing of the agreement, and then new initiatives and possible expansion of the team.
Such a scenario becomes traditional for us. It’s worth mention PitchBook, acquired by Morningstar, and Nimble Commerce, acquired by Blackhawk Network Holdings, Inc. And now Poynt has reached a whole new level.
Congratulations and thanks to all of the team members for the great results!