Global law firm Norton Rose Fulbright has advised the shareholders of Australian startup Pin Payments, on their divestment to global payment solution provider, Checkout.com.
The acquisition brings Checkout.com’s unified acquiring footprint to Pin Payments’ small and medium-sized business merchants, offering them improved payment performance and international growth opportunities. For Checkout.com’s enterprise merchants, the acquisition brings strong regional expertise and dedicated engineering resources to its customers across the Asia-Pacific region.
Led by partner Ben Smits, the Sydney corporate M&A team advised on all aspects of the transaction, including negotiation, regulatory advice, W&I insurance, tax/structuring advice and the completion of the sale which was announced on 26 May 2020.
Ben Smits commented:
“Pin Payments’ streamlined payment technology is a natural fit for Checkout.com and will improve the way their SMB business merchants access and manage payments, especially in the current climate with rising online sales.”
PinPayments’ co-founder and global chief executive officer Grant Bissett commented:
"Joining Checkout.com represents a milestone in our startup journey, and marks the commencement of the next phase of growth for the group. Ben's team understood our business and its surrounding industry context, and used Norton Rose Fulbright's M&A experience to drive an efficient process with clear and direct communication throughout.”
Ben was supported by partner Greg Reinhardt and senior associate Oliver Kabongo.