Affiliate marketing technology business Income Access Group has been acquired by online payments company Paysafe in a cash deal worth approximately $30 million.
Montreal-based Income Access specialises in marketing technology for affiliate programme management, and is the leading affiliate and player acquisition software among betting operators.
The company claims host to a network of over 25,000 iGaming affiliates and traffic partners. In response to the news, shares of Paysafe have taken an upward turn of 2.2%.
Regulated in the UK but based in the Isle of Man, Paysafe is proprietor to a number of payment solutions brands, including payment technology company Skrill and the NETELLER e-money payments and person-to-person transfer service.
Global affiliate network
Lorenzo Pellegrino, Paysafe divisional CEO, said Income Access’s “industry-leading expertise” would aid in expanding the company’s global affiliate network.
The company’s CEO and president, Joel Leonoff, echoed the sentiment, adding that the acquisition will allow Paysafe to meet objectives of providing merchants with further diversified options for payment.
“Income Access is an excellent fit for our business. This acquisition will help to extend our leadership position in niche-orientated payment solutions as we add value for our merchants and redefine the role of a payments provider,” Leonoff said.
According to the announcement, Income Access was acquired from EcomAccess, IA Digital Marketing and their shareholders, among further properties, for an aggregate consideration of CAD$40 million, with CAD$28 million to be paid in cash on completion of the transaction, and the remainder within 18 months.
Income Access founder and CEO, Nicky Senyard, will remain with the business as managing director.