CM.com Acquires Dutch Fintech Company PayPlaza
CM.com, a global leader 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 € 10 million (excluding a capped earn-out). 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 offices in the Netherlands, Germany and Spain, and has around 20,000 payment terminals connected to its platform. The company runs a high margin and profitable business with currently € 4 million 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.”
PayPlaza’s technology is widely deployable and in the combination with CM.com’s Payments solutions gives existing and new customers quick access to additional payment options in an omnichannel environment. The anticipated growth of unattended POS terminals for self-checkout and the increasing demand for mobile payment solutions in the delivery, retail and hospitality market provide for ample growth opportunities.
The founders of PayPlaza will stay on and are fully committed to execute the growth strategy.