GoDaddy has announced that it has entered into a definitive agreement to acquire Poynt.
Under the agreement, GoDaddy will pay $320 million in cash at closing and $45 million in deferred cash payments subject to certain performance and employment conditions over three years.
The transaction is expected to close in the first quarter of 2021, subject to the satisfaction of regulatory approvals and other customary closing conditions.
GoDaddy CEO Aman Bhutani, commented:
“Commerce is critical to our customers and we continue to invest in building seamlessly intuitive experiences that enable small businesses to sell everywhere, Poynt accelerates our strategy to provide a complete suite of commerce and payment services to address this critical customer need and focus on a large addressable market opportunity. We’ve built leading e-commerce capabilities that today allow small businesses to easily sell on their sites, across major marketplaces and the most popular social networks, and now we will help make them successful everywhere.”
Post close, Poynt CEO Osama Bedier will join the GoDaddy leadership team reporting to GoDaddy CEO Aman Bhutani and lead a new Commerce Division dedicated to creating the most intuitive and seamless commerce experiences for small businesses.
