Optimal Payments PLC Acquisition (4286O)
May 28 2015 - 1:01AM
UK Regulatory
TIDMOPAY
RNS Number : 4286O
Optimal Payments PLC
28 May 2015
Optimal Payments Adds Strategic Mobile Capabilities with
Acquisition of FANS Entertainment Inc.
Acquisition brings proven mobile wallet and ecommerce
platform
MONTREAL, LONDON and NEW YORK (28 May 2015) -- Optimal Payments
Plc (LSE AIM: OPAY, "Optimal Payments" or the "Group"), a leading
global online payment solutions provider, announces the acquisition
of Montreal-based mobile platform developer FANS Entertainment Inc.
("FANS") for a consideration of C$16 million (approx. US$13
million), payable to the vendors by issuing shares in a subsidiary
of Optimal Payments (the "Consideration Shares") which are
exchangeable on a one-for-one basis into shares of Optimal Payments
over the next three years, a portion of which are subject to the
satisfaction of certain financial performance criteria. The total
number of Consideration Shares issued to the vendors was
3,163,633.
The FANS Platform is a fully-integrated solution which helps
venues and content providers engage their fans while monetising
these services. It is a white-label, multi-level mobile wallet
system including a management software and analytics suite, as well
as operational and public apps. It can identify users based on
mobile behaviour, providing invaluable consumption metrics. The
company's platform has been successfully implemented at the Bell
Centre in Montreal, one of the highest-traffic venues in the world
with more than 1.5 million spectators annually.
FANS provides the Group with a proven technology platform and an
experienced management team that will remain in place, led by
Benoit Fredette, founder and CEO of FANS. FANS has leading clients
in the sports and entertainment sectors in Canada including the
Montreal Canadiens, and other high-profile venues and events. The
acquisition further strengthens Optimal Payments' position in the
mobile sector of the online payments industry and also provides an
entry point into the events market.
"We have been looking for an acquisition to enhance mobile
expertise such as the FANS Platform that complements our existing
services for some time, and to find the ideal technology and team
here on our doorstep in Montreal is fantastic. Through FANS,
Optimal Payments will be able to offer innovative value-added
mobile payment services globally to customers and merchants in all
of our vertical markets," said Joel Leonoff, president and CEO,
Optimal Payments. "We will be able to build on its mobile
technology and accelerate Optimal Payments' growth as an industry
leading mobile payments provider."
About FANS Entertainment Inc.
Founded in 2011, FANS Entertainment Inc. is a Montreal-based
firm specializing in mobile technology development for venues,
arenas and to enhance the overall fan experience around events. The
company also offers consulting services to sports teams, artists,
promoters and festivals around the world to help them develop their
fan engagement strategy. The early research that led to the
creation of FANS was performed through field projects at Harvard
University. The company's platform has been successfully
implemented at the Bell Centre, one of the highest-traffic venues
in the world with more than 1.5 million spectators annually. More
information is available at www.fansentertainment.com
About Optimal Payments Plc
Optimal Payments is a global provider of online payment
solutions, trusted by businesses and consumers in over 200
countries and territories to move and manage billions of dollars
each year. Merchants use the NETBANX(R) platform and services to
simplify how they accept credit and debit card, direct-from-bank,
and alternative and local payments; and the NETELLER(R) service to
increase revenues and capture new customers. Consumers use the
multi-lingual and multi-currency NETELLER(R) and Net+(R) Card
stored-value offering to make secure and convenient payments. In
addition, Optimal Payments Card Services, another division of
Optimal Payments, provides innovative prepaid products and services
to merchants. Optimal Payments Plc is quoted on the London Stock
Exchange's AIM, with a ticker symbol of OPAY. Subsidiary company
Optimal Payments Ltd is authorised and regulated as an e-money
issuer by the UK's Financial Conduct Authority (FRN: 900015).
For more information on Optimal Payments visit
www.optimalpayments.com or http://www.optimalcardservices.com to
find out more about our Card Services division.
You can subscribe for media alerts at
http://www.optimalpayments.com/media/email-alerts and on
Twitter.
-ends-
For further information contact:
Head of Investor Relations
Jessica Stalley
Optimal Payments Plc
+ 44 207 182 1707
investorrelations@optimalpayments.com
Canaccord Genuity Limited (Nominated Adviser & Broker)
Simon Bridges
+44 (0) 20 7523 8000
Media Contacts - Canada:
Erin Cudmore
Zenergy Communications
+1 416-591-5461
opay@zenergycom.com
Media Contacts - United States:
Richard Anderson/Emily Simmons
Feintuch Communications
+1 718-986-1596 / +1 212-808-4904
optimal@feintuchpr.com
Media Contacts - United Kingdom:
Andrew Dunn/Simon Hudson
Tavistock Communications
+44 20 7920 3150
optimal@tavistock.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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