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  5. Purchasing Power Acquires DoubleNet Pay

M&A Deal Summary

Purchasing Power Acquires DoubleNet Pay

On October 24, 2018, Purchasing Power acquired software company DoubleNet Pay

Acquisition Highlights
  • This is Purchasing Power’s 1st transaction in the Software sector.
  • This is Purchasing Power’s 1st transaction in the United States.
  • This is Purchasing Power’s 1st transaction in Georgia.

M&A Deal Summary
Date 2018-10-24
Target DoubleNet Pay
Sector Software
Buyer(s) Purchasing Power
Deal Type Add-on Acquisition

Target

DoubleNet Pay

Atlanta, Georgia, United States
DoubleNet Pay, Inc. is a provider of innovative technology for Purchasing Power to present automated savings and bill-paying capabilities to its ecosystem of large U.S. employers and their employees. DoubleNet Pay’s financial technology platform empowers employees with a simple, responsible way to set up automated savings goals, debt paydown strategies and recurring bill payments on-time through payroll deduction.

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Buyer(S) 1

Buyer

Purchasing Power

Atlanta, Georgia, United States
Category Company
Founded 2001
Sector Financial Services
Revenue 190M USD (2015)
DESCRIPTION

Purchasing Power is a voluntary benefits provider for employers, whose services enable employees to purchase large ticket items such as computers, electronics, appliances, and furniture through a monthly payroll deduction. Purchasing Power was founded in 2001 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Georgia M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2018 M&A 1 of 1
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