M&A Deal Summary

OLB Acquires DoubleBeam

On May 28, 2020, OLB acquired internet software and services company DoubleBeam from POSaBIT

Acquisition Highlights
  • This is OLB’s 1st transaction in the Internet Software and Services sector.
  • This is OLB’s 1st transaction in the United States.
  • This is OLB’s 1st transaction in California.

M&A Deal Summary

Date 2020-05-28
Target DoubleBeam
Sector Internet Software and Services
Buyer(s) OLB
Sellers(s) POSaBIT
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

OLB

New York, New York, United States

Category Company
Founded 1993
Sector Software
Employees26
Revenue 13M USD (2024)
DESCRIPTION

OLB is a commerce service provider that delivers fully outsourced private label shopping solutions to highly trafficked websites and retail locations. The company provides end-to-end e-commerce, mobile and retail solutions to customers. OLB was formed in 1993 and is based in New York, New York.


DEAL STATS #
Overall 1 of 1
Sector: Internet Software and Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1

Seller(S) 1

SELLER

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 1
Sector: Internet Software and Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-27 Ample Organics

Vaughan, Ontario, Canada

Ample Organics is a cannabis software solution platform makes compliance easy by tracking individual plants from seed to consumer and reporting every detail of the growth, production, and sales processes. Ample Organics was founded in 2014 and is based in Vaughan, Ontario.

Buy -