GoDaddy acquires US-based payment processor Poynt for $365 million

GoDaddy has signed a pact to acquire California-based payments processor Poynt in a $365 million deal which includes $320 million in cash at closing and $45 million in deferred cash payments subject to certain performance and employment conditions over three years.

The acquisition will help the Internet names and registrations management major to expand commerce services with integrated payments.

The transaction is expected to close in the first quarter of 2021, GoDaddy said on Tuesday.

“Commerce is critical to our customers and we continue to invest in building seamlessly intuitive experiences that enable small businesses to sell everywhere,” GoDaddy CEO Aman Bhutani, said in a statement.