Optimal plans to boost mobile

Optimal plans to boost mobile

Thursday, May 28, 2015 Totally Gaming
Acquisition of FANS part of broader strategy

Online payment provider Optimal Payments has strengthened its mobile service offering by striking a deal to acquire mobile platform developer FANS Entertainment.

Under the agreement, Optimal will acquire FANS for C$16m (€11.7m/US$12.8m), payable to the vendors by issuing shares in a subsidiary of Optimal. These shares are exchangeable on a one-for-one basis into shares of Optimal over the next three years, with a portion being subject to various financial performance criteria.

Joel Leonoff, president and chief executive officer at Optimal Payments, said that the acquisition would enable the payments provider to offer “innovative value-added mobile payment services” to its customers around the world.

“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,” Leonoff said.

The mobile platform developer is best known for FANS Platform, a white-label, multi-level mobile wallet system that enables both venues and content providers to engage with fans while monetising services.

The solution features a management software and analytics suite, as well as operational and public applications. Operators can also use the FANS platform to identify users based on various mobile behaviours.

Although Optimal will take control of FANS, the acquisition agreement states that the current management at the developer will remain in place, with FANS founder and CEO Benoit Fredette overseeing the team.

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