CM.com acquires Dutch fintech firm PayPlaza for €10m
CM.com, a global firm in cloud software for conversational commerce, reached agreement to acquire PayPlaza, an innovative Point of Sale (POS) Payment Acceptance Platform.
The acquisition forms a next step for CM.com to offer omnichannel communications and payments solutions from one single platform.
The transaction comprises a consideration of €10m. Upon closing, the acquisition will be immediately accretive to EBITDA.
Founded in 2010, PayPlaza is a fast-growing company which employs approximately 50 people across Europe, and has around 20,000 payment terminals connected to its platform.
The company runs a high margin and profitable business with currently €4m in annual recurring revenues, which are primarily license-fee based. PayPlaza connects partners to its POS Gateway, POS and mobile-POS terminal devices and serves large retailers such as Zeeman, and Dutch government departments such as the Ministry of Foreign Affairs.
Jeroen van Glabbeek, CEO of CM.com: “We see an increased demand for integrated online and mobile payment and physical in-store solutions, like mobile pin terminals. With PayPlaza we strengthen and further enrich the Payments proposition on our Conversational Commerce platform.“
Edgar Plasa, CEO of PayPlaza: “We operate a payments processing platform that also includes a physical instore solution that facilitates purchases, can scan items and serves as a complete mobile cash register. In the Netherlands, we have grown rapidly in recent years. Being part of CM.com enables us to accelerate our expansion across Europe.”