GoDaddy completes $345m acquisition of payments processor Poynt
Web hosting company GoDaddy has completed its previously announced acquisition of payments processing company Poynt in a deal worth about $345 million.
GoDaddy said that the acquisition will expand its commerce services to help in the growth of small businesses, both online and offline, through a single platform.
The deal was signed in December 2020. As per the terms, GoDaddy agreed to pay $320 million at the time of closing and deferred cash payments of $45 million based on the meeting of certain performance and employment conditions over a period of three years.
Commenting on GoDaddy acquisition of Poynt, Aman Bhutani – GoDaddy CEO said: “GoDaddy exists to empower everyday entrepreneurs and we’re committed to helping their ventures succeed by delivering seamlessly intuitive commerce experiences that enable them to sell everywhere, from e-commerce to physical stores.
“Poynt delivers amazing experiences in payments, invoicing and point-of-sale that strengthen our commerce offerings and will bring significant value to our customers. I want to welcome Osama and the entire Poynt team to the GoDaddy family.”