Spindle Updates Pending Acquisition
ACCESSWIRE ACCESSWIREFebruary 2, 2018
SCOTTSDALE, AZ / ACCESSWIRE / February 2, 2018 / Spindle, Inc. (OTCQB: SPDL) ("Spindle" or "Company"), a provider of unified commerce solutions, today updated the status of its previously announced pending acquisition of a privately held and highly profitable payments processing company.
The acquisition brings value drivers including existing contracts with merchants, exclusive bank relationship opportunities, experienced executive leadership with 25 years in the payment space, and an experienced technology veteran, both of which will join the Spindle team as CEO and CTO, respectively.
Dr. Jack Scott, Spindle Interim CEO stated, "We're pleased that we continue to make progress towards consummating the acquisition. We expect to finalize outstanding items in the next couple of weeks leading to an anticipated closing by the end of February. The more time I've spent with the acquisition target CEO in recent months, the more confident I am that he is ideally suited to lead the combined company forward as its CEO."
Scott concluded, "This acquisition has the potential to put Spindle back on track to growth and the combined companies will result in synergies and scale that should ultimately fuel future growth opportunities."
The acquisition brings the power of payment technology to merchants with innovative and easy-to-use products that are supported by unmatched customer service. The resulting combined companies will offer industry-leading technology, including its own in-house developed payments gateway, direct API, and an enterprise-level CRM solution specific to payment processing. Robust functionality will include offering different access for ISO, agents, and merchants, online merchant application processing, unlimited downstream revenue/commission, immediate underwriting, statement and reporting, and cryptocurrencies merchant processing.
Together the combined company is expected to deliver tailored solutions that maximize efficiency, security, and cost savings. Solutions are expected to comprise a unique, comprehensive blend of bankcard expertise, operational service and support, and technology that accelerates each customer's journey toward an improved bottom line.
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