M&A Deal Summary

POSaBIT Acquires DoubleBeam

On February 1, 2018, POSaBIT acquired internet software and services company DoubleBeam from VeriFone

Acquisition Highlights
  • This is POSaBIT’s 1st transaction in the Internet Software and Services sector.
  • This is POSaBIT’s 1st transaction in the United States.
  • This is POSaBIT’s 1st transaction in California.
Investment Fate
  • DoubleBeam was divested to a consortium of strategic buyers in 2020.

M&A Deal Summary

Date 2018-02-01
Target DoubleBeam
Sector Internet Software and Services
Buyer(s) POSaBIT
Sellers(s) VeriFone
Deal Type Divestiture

Target

DoubleBeam

San Marino, California, United States
DoubleBeam, Inc., provides mobile solutions to help retailers improve their customer experience and save money on their cost of payments in a way that maintains their brand and relationship with their customers. By integrating with retailers' existing mobile applications and POS systems, we close the loop between retailers offers and promotions, customer purchasing behavior and preferences, and the most personalized, real-time communication method ever: the smartphone in their customers' hands. In addition to improving marketing ROI, we save retailers money on payments by offering mobile-based eChecking as an option, which is dramatically cheaper than traditional credit and debit cards.

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Buyer(S) 1

Buyer

POSaBIT

Kirkland, Washington, United States

Category Company
Founded 2015
Sector Information Technology
DESCRIPTION

POSaBIT is a financial technology company that offers payment processing and point-of-sale systems to a wide variety of merchants and industry verticals. The company’s trusted payment processing system is MTL/MSB compliant. It provides an easy way for customers to acquire digital currency at the point of sale for high-risk industries like cannabis. POSaBIT was formed in 2015 and is based in Kirkland, Washington.


DEAL STATS #
Overall 1 of 4
Sector: Internet Software and Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 4
State: California M&A 1 of 1
Country: United States M&A 1 of 3
Year: 2018 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-28 DoubleBeam

San Marino, California, United States

DoubleBeam, Inc., provides mobile solutions to help retailers improve their customer experience and save money on their cost of payments in a way that maintains their brand and relationship with their customers. By integrating with retailers' existing mobile applications and POS systems, we close the loop between retailers offers and promotions, customer purchasing behavior and preferences, and the most personalized, real-time communication method ever: the smartphone in their customers' hands. In addition to improving marketing ROI, we save retailers money on payments by offering mobile-based eChecking as an option, which is dramatically cheaper than traditional credit and debit cards.

Sell -

Seller(S) 1

SELLER

VeriFone

New York, New York, United States

Category Company
Founded 1981
Sector Information Technology
Employees5,400
Revenue 2.0B USD (2015)
DESCRIPTION
Entrance to VeriFone's corporate headquarters in San Jose, California.
Entrance to VeriFone's corporate headquarters in San Jose, California.

VeriFone is a provider of secure electronic payment technologies. VeriFone provides solutions, services, and expertise that enable electronic payments. The Company's products and services include mobile, countertop and self-service payment devices, software, and web-based gateways. VeriFone was founded in 1981 and is headquartered in New York, New York.


DEAL STATS #
Overall 4 of 4
Sector: Internet Software and Services M&A 2 of 2
Type: Divestiture M&A Deals 3 of 3
State: California M&A 2 of 2
Country: United States M&A 4 of 4
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 Curb Mobility

Long Island City, New York, United States

Curb Mobility provides a comprehensive mobility platform that serves taxi and other for-hire ride operators, regulators, service providers, and riders. Curb Mobility was founded in 2007 and is based in Long Island City, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-01 2Checkout

Alpharetta, Georgia, United States

2Checkout provides a complete commerce solution enabling Software, SaaS and Cloud Services companies to increase their online sales, manage subscription billing, grow their reseller and affiliate distribution networks and reach new global markets. 2Checkout was founded in 2006 and is based in Alpharetta, Georgia.

Buy -