Paysafe makes another acquisition, snapping up Income Access

liate technology firm Income Access has been bought by payment provider Paysafe Group for CAD$40m (£23m).

This follows the acquisition of digital payment company Skrill by Optimal Payments for €1.1bn in 2015, before Optimal Payments changed its name to Paysafe Group last November.

Paysafe also operates the Neteller money transfer system.

A spokesperson for Paysafe confirmed to Gambling Insider that the Income Access deal has been completed.

The terms of the deal are slightly complicated, as subsidiaries of Paysafe have bought Income Access from EcomAccess, as well as software and related intellectual property from Share Results, an affiliate marketing software business owned by Income Access shareholders, with the total consideration for the deal adding up to CAD$40m.

Nicky Senyard, Founder and CEO of Income Access, will remain as Managing Director.

Senyard said: "Our technology and global affiliate network, combined with Paysafe's comprehensive payments offering, creates a winning combination for the benefit of our existing and new partners.”

Lorenzo Pellegrino, Paysafe Divisional CEO, who manages the Skrill and Neteller brands, said: “We are always looking to enhance the breadth of our product offering. By integrating Income Access' industry-leading expertise within our business, we both expand our global affiliate network and embed our payment capabilities more deeply into the merchants we work with."