Published On: Tue, Feb 9th, 2021

GoDaddy completes $345m acquisition of payments processor Poynt

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Web hosting company has completed its previously announced acquisition of payments processing company in a deal worth about $345 million.

GoDaddy said that the acquisition will expand its commerce services to help in the growth of small businesses, both online and offline, through a single platform.

The deal was signed in December 2020. As per the terms, GoDaddy agreed to pay $320 million at the time of closing and deferred cash payments of $45 million based on the meeting of certain performance and employment conditions over a period of three years.

GoDaddy completes $345m acquisition of payments processor Poynt

GoDaddy completes $345m acquisition of payments processor Poynt. Photo courtesy of GoDaddy Operating Company, LLC.

Commenting on GoDaddy acquisition of Poynt, Aman Bhutani – GoDaddy CEO said: “GoDaddy exists to empower everyday entrepreneurs and we’re committed to helping their ventures succeed by delivering seamlessly intuitive commerce experiences that enable them to sell everywhere, from e-commerce to physical stores.

“Poynt delivers amazing experiences in payments, invoicing and point-of-sale that strengthen our commerce offerings and will bring significant value to our customers. I want to welcome Osama and the entire Poynt team to the GoDaddy family.”

Poynt’s CEO will lead the new commerce division of GoDaddy and will report to Aman Bhutani.

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