GoDaddy acquires point of sale provider Poynt for $365 million

guest · Dec 15, 2020

GoDaddy acquires point of sale provider Poynt
December 15, 2020
https://www.zdnet.com/article/godaddy-acquires-point-of-sale-provider-poynt/

GoDaddy said Tuesday that it's buying Poynt, providers of point of sale (POS) and other software for small businesses, for $365 million. Under the terms of the deal, GoDaddy will pay $320 million in cash at closing and $45 million in deferred cash payments over three years.

GoDaddy, which provides web hosting and domain registrar services, is aiming to use Poynt to expand its e-commerce and payments capabilities.
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GoDaddy said that by combining Poynt with its existing websites, marketing and WordPress commerce services, the company will be able to offer its customers a unified commerce platform bridging both online and offline shopping.
Upon closing, Poynt CEO Osama Bedier will join the GoDaddy leadership team and lead a newly formed commerce division.
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guest · Dec 15, 2020

GoDaddy buys payments processor Poynt for $320 million to fill out commerce offering
December 15, 2020
https://www.zdnet.com/article/godad...or-320-million-to-fill-out-commerce-offering/

Web hosting pioneer GoDaddy of Scottsdale, Arizona Tuesday afternoon said it will buy privately held Poynt of Palo Alto, California for $320 million in cash to add to its portfolio of commerce offerings.

GoDaddy CEO Aman Bhutani said the acquisition will "accelerate" GoDaddy's effort to "provide a complete suite of commerce and payment services to address this critical customer need and focus on a large addressable market opportunity."
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Poynt has more than 100,000 merchants using its software, representing $16 billion in annual business, or Gross Merchandise Volume, said GoDaddy.

"We've built leading e-commerce capabilities that today allow small businesses to easily sell on their sites, across major marketplaces and the most popular social networks, and now we will help make them successful everywhere," said Bhutani.
The deal features an additional $45 million in compensation to Poynt subject to meeting performance and employment conditions over a three-year period.
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The deal would seem to be an effort for GoDaddy to round-out its commerce offerings to be more competitive with Shopify.
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GoDaddy: GoDaddy Acquires Poynt, Expands Commerce Services with Offline Sales and Integrated Payments

GoDaddy's Commerce Platform Enables Small Businesses to Sell Everywhere by Connecting Online and Offline Shopping Experiences
Acquisition expected to contribute more than $150 million of bookings in 2023
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GoDaddy acquires point of sale provider Poynt for $365 million

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