Paystone, a fintech firm based in London, Ontario, is acquiring Ackroo, a loyalty marketing and payments provider, for $0.15 per share in a $21M deal.
Ackroo CEO Steve Levely described the move as a natural step after a decade of scaling through acquisitions. “This creates a liquidity event for shareholders and positions Ackroo’s products and clients to benefit from a larger organization,” said Levely. Paystone, which serves 35,000 merchants across North America, has been consolidating the fintech space with acquisitions like DataCandy and NiceJob. The court-approved transaction underlines Paystone’s strategic growth in payments and loyalty tech.
Want to know more? Check out the source code on Fintech.ca.