GoDaddy adds key payments component to commerce platform.
GoDaddy (NYSE: GDDY) is buying payments processor Poynt for $320 million upfront and up to $45 million in deferred payments.
Poynt offers in-store and online payment processing for merchants, as well as virtual terminal services for phone and keyed-in payments.
The acquisition will give GoDaddy a greater connection to merchants that use its Websites + Marketing platform and WordPress/Woo Commerce. Notably, it also brings GoDaddy to physical stores through point of sale terminals, including both third-party terminals and people who use its smartphone payment apps and card readers. This expansion into offline commerce could open the door to providing more technology services to small businesses.
Poynt CEO Osama Bedier will join GoDaddy and lead a new Commerce Division.
GoDaddy says the acquisition is expected to contribute more than $150 million of bookings in 2023.