Optimal Payments snaps up FANS Entertainment
Online payment provider Optimal Payments has struck a deal to acquire mobile platform developer FANS Entertainment for approximately C$16 million (€11.7 million/US$12.8 million).
The FANS Platform is a white-label, multi-level mobile wallet system that allows venues and content providers to engage with fans whilst also monetising such services.
The solution includes a management software and analytics suite, in addition to operational and public applications, and allows operators to identify users based on mobile behaviour.
As part of the acquisition agreement, the current FANS management team will remain in place, while founder and chief executive officer Benoit Fredette will continue to oversee operations.
Joel Leonoff, president and chief executive officer, Optimal Payments, said: “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.
“We will be able to build on its mobile technology and accelerate Optimal Payments' growth as an industry leading mobile payments provider."
Related article: Optimal Payments on track after Skrill acquisition